On November 14th, the Telegraph discussed the indictment of two Fitch and five S&P employees accused by a southern Italian prosecutor of market abuse. The indictments allege the rating agencies' employees destabilized the image, prestige, and financial markets of Italy by downgrading Italy's sovereign debt and allegedly leaking the information. Both Fitch and S&P vigorously deny the charges and Fitch threatens to leave the Italian market if the prosecution moves forward. Italian Job.