LONDON, June 1 The European Union's markets
watchdog has fined Moody's 1.24 million euros ($1.39
million) for breaches of the bloc's credit ratings rules.
The European Securities and Markets Authority (ESMA) said
Moody's German and UK units "negligently committed two
infringements of the Credit Rating Agencies Regulation regarding
their public announcement of certain ratings," ESMA said in a
statement on Thursday.
The second infringement was over public disclosure of
methodologies used to determine those ratings.
The failures relate to 19 ratings issued between June 2011
and December 2013 for nine international bodies, including the
European Investment Bank, the European Investment Fund, the
European Stability Mechanism, the European Financial Stability
Facility, and the European Union.
Moody's in Germany and Britain have a right of appeal.
($1 = 0.8905 euros)
(Reporting by Huw Jones)