Countrywide’s Debt Problem

Countrywide Financial Corp., which has taken plenty of shots to the gut during the credit crunch, was sucker-punched again today, causing investors to sell the shares and boost expectations of a potential default on its debt.
Ratings agency Standard & Poor’s downgraded the company’s credit rating to junk status at about 2 p.m. ET. The rating agency was reacting to a regulatory filing by …
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  2 May, 2008| Economy | @ 14:33

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