Questions abound after agency downgrades US credit rating CNN
One area of concern is whether a downgrade would ward off investors from buying U.S. debt and increase the country's cost to borrow money, therefore increasing consumer interest rates on everything from mortgages to car loans to student loans.
"Only time's going to tell how we're going to be affected," former U.S. Comptroller General David Walker told CNN. "Interest rates that affect the U.S. government ultimately can ripple throughout the economy, which is not good news given our weak economic condition already."
Rating agencies such as S&P, Moody's and Fitch analyze risk and give debt a grade that is supposed to reflect the borrower's ability to repay its loans. The safest bets are stamped AAA. That's where the U.S. debt has stood for years.
Moody's first assigned the United States a AAA rating in 1917. Fitch and Moody's, the other two main credit ratings agencies, maintained the AAA rating for the United States after this week's debt deal, though Moody's lowered its outlook on U.S. debt to "negative."
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Will bad credit in the U.S. affect my credit in Canada?
I have considerable U.S. credit card debt and I am considering using a U.S. company to consolidate the debt. I live in Canada and have my home and all other assets in Canada. Does anyone know if ruining my credit in the U.S. will affect my credit in Canada? Also, can anyone recommend a good U.S. debt consolidation company?
Yes. You can't get away with it. They will do a US credit check when you apply.
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Telecom giant Nortel files for bankruptcy protection, victim of ... - CBC.ca
Washington PostTelecom giant Nortel files for bankruptcy protection, victim of (TSX:NT) and several of its units have filed for bankruptcy protection from creditors, a victim of the global credit crunch that has devastated the Canadian Video: Money Minute: Nortel, Lehman Dubai Nortel files for bankruptcy protection, plans to streamline but Nortel shares plunge on TSX after company files for bankruptcy
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Record 2008 for cleantech with $8.4B in investments - Cleantech Group Record 2008 for cleantech with $8.4B in investments The economic climate will probably result in price drops and consolidation in the solar market, both of which Meyer said are needed for the industry's |
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100 ways to profit in the difficult times ahead - The Australian 100 ways to profit in the difficult times ahead Expect several months of consolidation and base building at the lows, until a sustainable upward trend is likely to emerge. Argo has been miserly with its |
