Rating a mention

S&P HAS downgraded the US debt rating for the first time ever, from AAA to AA+. this decision, and S&P's subsequent downgrading of italy, has caused much consternation. We asked Jack Foster, head ?of global real asset of Franklin Templeton Real Estate advisors, how investors really feel about credit ratings agencies Nathan North, 'Eurobuild CEE': How seriously do you take ratings agencies?Jack Foster, FTREA: This is an important question. After the recent downgrade, it's highly likely that in 2013 that the US will be downgraded again, as it's hard to see how the government will have put an appropriate fiscal package together by the next election. These are crucial issues, so we cannot ignore what the agencies say or are going to say. Do they give a true reflection of the situation on the ground, or can they just add to the general panic?Our view is that ratings agencies play a useful role. Their findings are usually a response to changes that have occurred, but they can also