Italian prosecutors investigating Standard & Poor’s and Moody’s Investors Service rating policy for Italy are seeking documents from U.S. authorities on S&P’s decision to cut that nation’s AAA ranking in July, a person familiar with the inquiry said.
Michele Ruggiero, a prosecutor from the southern city of Trani, may travel to the U.S. next month for talks with U.S. authorities on the S&P decision, the person said. Ruggiero met with Prime Minister Silvio Berlusconi’s undersecretary, Gianni Letta, last week to seek government support for efforts to secure U.S. cooperation.
Both S&P and Moody’s face legal challenges by Trani’s prosecutors investigating market-moving statements on Italy’s creditworthiness by the two companies. Rome-based stock-market regulator Consob also questioned both companies in July after they placed the country on review for a possible downgrade
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