US Credit Rating Downgrade Claims it’s First Victim.

24 Aug

Weeks after credit rating agency Standard & Poor’s downgraded the US sterling AAA rating and in result sending the global markets into turmoil, Deven Sharma its president is stepping down. Sharma will be replaced by Citibank current Chief Operating Office Douglas Peterson.

With the US Justice Department investigating S & P and its parent company McGraw-Hill for its practices regarding mortgage securities, and 2012 first approaching, it will only remain a guess who will next fall.

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