I am not a guy from finance, but to be very honest, does rating really work? Means our Standard and Poor's aka S&P cuts rating of US, then Europe, then India. Means come on, will it work. It only deteriorates the sentiments. Even top rated markets have failed and underrated markets have performed well. Rather then making complex situations and analysis, the rules,laws, procedures should be rather simplex in its form.
I hope S&P will maintain the Standards of everyone and help in reducing the poor sentiments of people :)