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Business
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| Number of pages / Number of words: |
3 / 562 |
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Standard and Poor’s, a company that publishes financial research and analysis on stocks and bonds downgraded its ratings to “junk bond†status (en.wikipedia). Parmalat also claimed to have an account with Bank of America totaling almost $4 billion dollars in liquidity, which was untrue. Bank of America went public with this information essentially bringing an end to Parmalat...
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Parmalat also claimed to have an account with Bank of America totaling almost $4 billion dollars in liquidity, which was untrue. Bank of America went public with this information essentially bringing an end to Parmalat. Parmalat’s stock fell an unrecoverable 66% in addition to the 40% previously thanks to Standard and Poor’s...
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