This refers to the report “Moody’s upgrades sovereign debt ratings” (December 21). Moody’s decision and the objection by some economists clearly prove the futility of the entire exercise and how such decisions affect the ordinary investor. Any so-called expert advice on investment opportunities is only dependent on the personal assessment of the individual concerned and I do not understand how it can hold good for everyone. If some economists wonder at the basis of the upgrading done by analysts at Moody’s, it clearly shows that there is no scientific basis for such analysis. If that is the case, why, then, should the country get unnecessarily worried by the so-called ratings by rating agencies?
Isn’t this a kind of an organised activity to whitewash what is actually happening in the country? I personally believe such ratings only help in manipulating the Sensex, which is considered a barometer of the country’s economy. So, anything can be manipulated in the country by a few people if they have some clout among a handful of people who matter. All this is merely eyewash and needs to be scrapped forthwith.
B C U Nair, Hyderabad
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