This refers to the report “Again, S&P warns of lowering India’s rating” (Business Line, October 11). The Indian media should have understood the game agencies like this play. The release of this report, about which Standard & Poor’s later clarified to media that “….we did not issue or announce anything on India sovereign rating today. We simply published our regular Asia-Pacific sovereign report card, which does not have any new information on India’s rating”, coincided with the visit of Fed chief and US Treasury Secretary to India. Despite the clarification, the release dampened the mood of India Inc. and the bourses in India.Dwelling on the politics and economics of UPA II, the rating agency laments about matters which an external agency should not be worrying about.
- M.G.Warrier (HBL)
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