S&P president Deven Sharma reminds DealBook that ratings services only address credit risk...

|By:, SA News Editor

S&P president Deven Sharma reminds DealBook that ratings services only address credit risk and are not designed as investment recommendations. On Buffett's warning of a crisis in municipal and state bonds: "There are certain states that put the payment of debt at a higher priority than other services, so as a result the ratings will reflect that... But public entities, like if you are a sewer system or a hospital, those are different issues."