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Home›Insurance›Industry & Deals›Ratings firm accused of grade inflation backed $40 bil…

Ratings firm accused of grade inflation backed $40 billion in insurer debt

Egan-Jones says it stands behind the integrity of its ratings, which have been banned by a regulator and are central to a lawsuit filed by former employees.

Reported · Written up by our desk · Industry & Deals

The Wall Street Journal Markets reports that ratings firm Egan-Jones is facing accusations of grade inflation tied to its coverage of insurer credit.

According to the report, Egan-Jones says it stands by the integrity and rigor of its ratings even as those ratings have been banned by a key regulator.

The outlet adds that the firm is also the subject of a lawsuit brought by former employees, with the ratings work and insurer-debt exposure described as a focal point.

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Sources

WSJ MarketsRatings Firm Accused of Grade Inflation Vouched for $40 Billion of Insurer Debt

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