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S&P and ABN Amro suffer Australian legal defeat
Zone(s): Australia ¦ Sector(s): Finance, Law
ABN Amro’s investment division was owned by RBS at the time the derivatives were sold – RBS declined to comment on Friday. S&P is facing legal action in other parts of the world over its ratings prior to the financial crisis. In the US, sixteen states may pursue claims alleging that S&P issued misleading credit ratings.