What is the meaning of credit rating?

Credit rating is a rating in form of a full report which rates a particular business as per the credentials and the soundness of the financial statements like various terms of borrowing and lending etc. Thus it is linked to the financial instrument. The report represents financial credibility of the business entity as determined by

What is the meaning of bankruptcy?

Bankruptcy stands for legal process against a person or an organization when the latter are unable to honour their financial obligations or pay back their outstanding debts. The firm or the debtor files a petition in the court and all the outstanding debts are measured and evaluated. Further, the assets of the debtor are used