Standard & Poor's

Standard & Poor’s is best known for stock market indices such as the US-based S&P 500 and for its credit ratings, competing against Moody's Investors Service and Fitch Ratings. Rating agencies came under fire for issuing top ratings to pools of mortgages which included subprime loans and in February 2013, the US Justice Department filed a civil lawsuit against S&P, seeking US$5 billion in civil damages.

Fitch Ratings was concerned about OCBC's increased exposure to Greater China. Photo: Reuters

Fitch puts OCBC on negative watch after Wing Hang deal

Credit rating agency Fitch Ratings has placed Oversea-Chinese Banking Corp, Southeast Asia's second-largest lender, on negative watch, citing higher potential exposure to China, after the bank announced a HK$38.4 billion takeover of Hong Kong's Wing Hang Bank.