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AG Hilgers Leads Coalition Letter to Fitch, Moody's, S&P on ESG Policies

Attorney General Mike Hilgers co-led a coalition of 23 state attorneys general in sending a letter to Fitch Ratings, Moody's, and S&P Global Ratings questioning the lawfulness of their ESG credit policies. The letter raises concerns that the agencies artificially increase demand for their ESG consulting services while downgrading fossil-fuel companies based on speculative ESG goals, which the states argue constitutes an undisclosed material conflict of interest and may violate antitrust and state consumer-protection laws.

Iran Conflict LP Funding Risk in Fund Finance

FitchRatings analysis indicates Middle East LP exposure comprises 6.7% of uncalled capital across 254 Fitch-rated subscription finance facilities, suggesting limited systemic exposure, with more concentrated facilities potentially more sensitive to credit quality deterioration in the region. The article examines how existing credit agreement provisions protect lenders when LPs face capital call funding challenges.