IT bellwether Wipro on Monday said it was too early to predict the assessment on the actual implication of S&P downgrade of the U.S. sovereign credit rating from AAA to AA+. A release by Wipro CEO (IT Business) and Executive Director T. K. Kurien said: “We need to see if this downgrade along with the prevailing macroeconomic conditions has any further impact on the real economy, which is primarily driven by consumer and business confidence.” In fact, he pointed out, “The structural weakness in the economy offers opportunities to IT services companies, as we help global corporation's variabalise their IT, thus making them fundamentally more adept to compete.”
