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Poor Credit Rating!
Standard & Poor’s have offices in 23 countries and a history that dates back more than 150 years. They are known to investors world-wide as a leader of
financial market intelligence. Or at least that's what it says on their website.
Standard & Poor’s later claimed that it had been an 'accident'
France's reaction to the 'error' made by this ostensibly American owned and hitherto, well respected, institution has been, and as is typical of our indefatigable Gallic chums, relatively mooted. With billions of Euros wiped off the value of the French stockmarket at a stroke the French simply retaliated with -
"Carefully dismantle the Statue of Liberty that you have only recently so lovingly restored. Pack the pieces nicely. Then return to us, carriage pre-paid, on the next available ship and in the same condition as when we first lent it to you. S.V.P."
My own personal view on the whole sad affair is that as this is not the first such catastrophic error spawned by Standard & Poor's then isn't it high time that Standard & Poor's credibility rating is downgraded?
Maybe to 'Nil'!
I’ve finished credit scoring now.
For the day anyway.
