In addition, $1.3 million of the $16 million fine was linked to 26 ratings of securities called "combo notes" valued at about $2 billion in a manner the SEC said was inconsistent with other securities using the same ratings symbols. The SEC warned Moody's about its internal controls yet the agency "did not develop an effective process to ensure the accuracy of the models it relied upon" for ratings, Antonia Chion, the SEC's associate director of enforcement, said in a statement. Moody's neither admitted nor denied wrongdoing.