The optimistic person Mr. Barrack Obama, the president of the United States of America and Mr. John Boehner, the speaker, towards the eradication of a fiscal cliff diminished the credit risk of the nation.
However for New York the credit rating points dropped from 1.2 basis points to 101 basis points.
Credit default is something by which the investor can evaluate the credit worthiness of the company and can take correct decisions regarding the investments.
A low economic phenomenon may create an obstacle for the business houses to pay off the taxes according to their investors. The two ways to avert a fiscal cliff are cutting down the spending and increasing the tax revenue. Sooner or later the crisis would come to an end. Mr. Obama the president of US declared to reach the solution before the coming Christmas.
There is no demand for purchase of new houses. So housing market sale has declined by 3%.
When an investor would show a positive response, a revive in the economic condition would be prevailed, thus encouraging the slowdown of credit swaps.
Hewlett-Packard Company (NYSE:HPQ)
Hewlett-Packard Company (NYSE:HPQ) acquired AUTONOMY CORP PLC ORD (PINK: AUTNF) by paying a huge amount of proceeds but resulting in misappropriation of book of accounts which declined the credit ratings of the former company by Moody’s Corporation (NYSE: MCO). Now all its bonds prices are hitting a low as per the market reports.
As per today’s news Moody’s Corporation (NYSE: MCO) cut off the credit rating of Hewlett-Packard Company (NYSE: HPQ) by 3 levels. Now it has fallen down to BAA1 from the earlier A3 rating.
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