Moody's to pay ₹5,800 cr penalty over 2008 financial crisis

Credit rating agency Moody’s has agreed to pay nearly $864 million (over ₹5,800 crore) to settle an investigation into its ratings of risky mortgage securities in the run-up to the 2008 financial crisis. Moody’s reached the agreement with US Justice Department and 21 states, resolving accusations that the firm contributed to the worst financial crisis since the Great Depression.