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

3-line summary

• Egan-Jones, a ratings firm accused of grade inflation, vouched for $40 billion of insurer debt, according to a WSJ report.
• The firm's ratings have been banned by a key regulator and are the focus of a lawsuit brought by former employees, according to the report.
• Egan-Jones says it stands by the integrity and rigor of its ratings, according to the report.

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