Standard and Poors letter

Sir – While the timing of my departure from Standard & Poor’s pparently
confounded some analysts of the news, I can assure you that the decision to step
down as president of S&P was carefully considered, long-planned and of my
own initiation. Contrary to the suggestion in “Sub-prime to the ridiculous,”
(Financial Director, October), there was no sword to fall on. Making a
change in one’s career after 25 years in the financial markets – the last 13 as
a working mother – is not an easy decision, nor can it be perfectly timed to
credit market cycles. Nevertheless, my family is pleased with my decision and I
am pleased to have had the privilege of serving S&P.

Kathleen A. Corbet, former president, Standard & Poor’s

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