Farming industry in this region began to succeed.
Answer:
Macy is liable. The Federal Trade Commission states that both the credit rating agency and Macy's are responsible for correcting the erroneous credit report. It is very hard to sue and win a credit rating agency because they will place the blame on the company that made the initial mistake (Macy's), but lately courts have accepted cases against the companies that cause all this mess.
Courts have lately ruled in favor people alleging that a bad credit report damaged them since a good credit rating is considered an intangible asset. The company that cause the mistakes are liable for any possible damages resulting from a poor credit rating.
The event is known as Leveraged buyout.
Leveraged buyout is used to describe a transaction where an organization is acquired by an individual or group of individuals, through debt gotten elsewhere.
- In other word. when a company's acquires another company using a significant amount of borrowed money to meet the cost of acquisition, it is known as Leveraged buyout.
In conclusion, when this group of private investors in the question successfully acquired the firm from its current owners with borrowed money, then the event is known as Leveraged buyout.
Learn more about Leveraged buyout here
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