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Investing

Italian Tax Cops Investigating Fitch Ratings Office in Milan

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By Paul Ausick Published

Tax police in Italy have entered the offices of Fitch Ratings in Milan in an investigation related to the downgrade of Italian sovereign debt. Italian authorities had already visited the offices of Standard & Poor’s and Moody’s, so the visit to Fitch was probably not unexpected.

Italian authorities were pretty steamed at the debt downgrade and are investigating the ratings agencies for “possible crimes of market manipulation and illicit use of privileged information,” according to a report from Reuters.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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