Indian-American Deven Sharma, the president of Standard and Poor's, is stepping down by year end, an announcement coming only weeks after the credit rating agency downgraded American credit rating.
The world's largest credit rating agency seems to have a particular fascination for top-drawer talent from India.
Nine Indian Americans among Outstanding 50 Asian Americans in Business this year.
Deven Sharma, president of Standard and Poor's, tells Devjyot Ghoshal that the market and the investor will have the final say on the way forward.
Facing criticism inside the United States for downgrading America's credit rating from AAA to AA+, the Standard and Poor's Indian-American president Deven Sharma has said that the agency's decision was made mainly because of the rising debt levels and the process of resolving things.
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.
Rating agency Standard & Poor's is using the experience of working with the Indian rating agency, Crisil, a subsidiary of S&P, to its advantage. Deven Sharma, president, Standard & Poor's, spoke to Rajesh Bhayani