SAN FRANCISCO — California Attorney General Jerry Brown yesterday said he has issued subpoenas to the three major rating agencies as part of an ­investigation into whether they violated state law by giving high ratings to ­subprime mortgage-backed securities and other complicated debt instruments that proved to be worthless as the housing market bubble burst.

Brown said his office’s probe focuses on whether Moody’s Investors Service, Standard & Poor’s, and Fitch Ratings violated California laws prohibiting unfair and deceptive business practices.

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