Credit ratings agency Standard & Poors (S&P), who famously downgraded the credit rating of the U.S. government in the summer of 2011, will not be rating bonds in one of its most profitable markets in 2015.

The firm has been suspended from rating activity in commercial mortgage bonds for one year as part of a $60 million settlement with the U.S. Securities and Exchange Commission, Bloomberg is reporting, citing a unnamed source familiar with the matter. The actual settlement announcement could be announced as early as tomorrow.

The settlement will represent the regulatory agency’s toughest action since the 2008 market crash that resulted in an economic recession. Credit ratings agencies were taken to task for not properly investigating and vetting toxic securities that ultimately imploded due to the unknown poor credit quality inside the investments.  The ratings agencies were paid by firms packaging and selling the mortgage securities and, critics charge, were incented not to aggressively investigate or rate the securities.

The ban will render S&P inoperable for one year in one of the most lucrative markets: rating debt securities that bundle many mortgage loans into a single investment. The loans in question could be tied to homes, shopping malls and skyscrapers.

In addition to the SEC fine, S&P will also pay a penalty to settle probes brought by Attorneys General in New York and Boston, the source told Bloomberg.

This mortgage settlement with the SEC is separate from a lawsuit brought by the U.S. Justice Department that could cost the ratings agency nearly $1 billion. That lawsuit is expected to be settled in the first quarter of 2015, the source said.  S&P received a Wells notice from the SEC in July, 2014, announcing that investigators planned on pursuing an enforcement action tied to six commercial mortgage-backed securities, or CMBS, ratings from 2011, the Bloomberg report said, citing to a regulatory filing. The alleged violations in question relate to the CMBS rankings and “public disclosure made by S&P regarding those ratings thereafter,” McGraw Hill was quoted as saying.