[January 16, 2018]

Statement by Former Standard & Poors President Deven Sharma on Italian Court Ruling Acquitting Him of All Charges

Deven Sharma, former President of Standard & Poors (S&P) issued the following statement regarding a recent court ruling in Trani, Italy which exonerated him of all claims that S&P's process of downgrading the credit rating of Italian debt in 2010 was a violation of Italian law:

"I am pleased with the Italian Court's decision, which recognizes that as President of S&P, I was not personally invlved in the analytics driving credit ratings actions.

I would particularly like to thank my litigation team at Williams & Connolly LLP, led by John Villa, my Italian legal counsel, Francesco Isolabella, and several academic experts for their advisory. I would also like to express my gratitude to my colleagues, friends and family for their support over the past few years."

View source version on businesswire.com: http://www.businesswire.com/news/home/20180116005641/en/

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