S&P, Moody's, Fitch, Probed by Connecticut on Ratings

"Blumenthal's office is investigating complaints that the credit-ratings companies rank debt against issuers' wishes, then demand payment, he said today. The state also is probing whether the companies threaten to downgrade debt unless they're awarded business to rate all of an issuer's securities, and the practice of offering ratings discounts in return for exclusive contracts."