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)

UP CM Akhilesh leaves for The Netherlands to attract investors Sep 1, 1:41 pm
New Delhi, Sept. 1 (ANI): Uttar Pradesh Chief Minister Akhilesh Yadav left for The Netherlands on Monday, during which he is expected to meet investors.
Full Story
ADB to give financial help to control landslide in Nepal's Lampata area Sep 1, 1:16 pm
Kathmandu, Sept.1 (ANI): The Asian Development Bank (ADB) will provide financial assistance to control the landslide at Lampata of Babiyachour-5 in Nepal's Myagdi District.
Full Story
Diesel under-recovery decreased to Rs 0.08 per litre for fortnight commencing Sept. 1 Sep 1, 1:16 pm
New Delhi, Sep 1 (ANI): Diesel under-recovery has been decreased to Rs. 0.08 per litre for a fortnight commencing from today.
Full Story
Chacko lauds PM, says NDA Govt. looking for investment is a good step Sep 1, 1:16 pm
New Delhi, Sept.1 (ANI): Lauding Prime Minister Narendra Modi's take on Foreign Direct Investment (FDI), Congress leader P.C. Chacko on Monday said it is a good step that the NDA Government is looking for investment.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY