S and P President's father defends decision to downgrade U.S. debt rating

   Aug 13, 11:47 am

Jamshedpur/Ranchi (Jharkhand), Aug 11 (ANI): Standard and Poor's (S and P) President Deven Sharma's father R.N. Sharma on Thursday defended the decision of his son's firm to downgrade the debt rating of the United States, one of the biggest economies of the world.

Deven had last week stripped the U.S. of its reputable AAA credit rating and brought it down to AA+.

Deven's father R.N. Sharma told mediapersons that the job of the firm was to present the fact to hundreds of investors across the world market.

"I would say that he fulfilled his responsibilities and he has not tried to hide any fact. He never thought that how can any economy be so big. That is not his job, his job is to look at many factors in an economic situation and then report it to the investors," said R.N Sharma.

Deven Sharma was a mechanical engineering student and alumni of one of India's foremost engineering institutes Birla Institute of Technology (BIT) Mesra (Ranchi) in 1977.

"People used to like him because of his friendly and sociable nature. He was a happy go lucky kind of a person. But, yes he had a very disciplined life," said Gopal Pathak, Deven's college batch mate.

Deven completed his schooling from De Nobili in Dhanbad in 1971.

He moved to the U.S. to complete his master's degree from the University of Wisconsin and went on to pursue a doctorate degree in business management from the Ohio State University. (ANI)

Marvel realtors introduce luxury condos Jul 3, 9:44 pm
Pune, July 3 (ANI-Businesswire India): Marvel Realtors have launched another contemporary and superlative residential condominium - Marvel Piazza in Pune's mini boom town - Viman Nagar.
Full Story
Sensex closes at 146.99 points Jul 3, 5:57 pm
Mumbai, July 3 (ANI): The Bombay Stock Exchange (BSE) Sensex closed at 146.99 points up to stand at 28,092.79 on Friday.
Full Story
Sales of electric vehicle show impressive growth: SMEV Jul 3, 4:24 pm
New Delhi, July 3 (ANI): The sales of electric vehicle have shown significant increase in the last quarter indicating that much lauded FAME (Faster Adoption and Manufacturing of Electric Vehicles) programme is having a positive impact on the industry.
Full Story
BBC to slash 1,000 jobs for cost-saving Jul 3, 2:44 pm
London, July 3 (ANI): The International News Broadcasting Company BBC has announced that it will soon cut down more than 1,000 jobs as they are falling short in its license revenue by 150 million pounds.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY