Monday, 8 August 2011

The Indian behind the US rating downgrade - Business

Deven Sharma, president, Standard and Poor's.

There is an Indian at the helm of affairs surrounding the historic downgrade of the United States' creditworthiness, as ratings agency S&P's unprecedented move was taken under the leadership of Deven Sharma.

Standard & Poor's president Sharma was at the forefront of S&P's decision to downgrade the US long-term sovereign credit rating from the top-notch 'AAA' level for the first time ever since a rating was assigned to the world's largest economy.

When the US administration took up cudgels against the ratings agency, terming its analysis flawed and questioning its credibility and integrity, Sharma again led from the front in defending S&P's move.

Defending S&P's action, Sharma said the angry reaction from the US was on expected lines and "the same you would get from any other country or company" being downgraded.

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