The initial public offering of the world’s largest and famous social networking site Facebook has been the cause of the speculation running for months in Wall Street. Some have been thinking that the IPO would draw closer within this year, while others have stated that it would probably arrive late in 2012.

The Wall Street Journal added in fueling up the IPO fire of Facebook reporting that the largest social network in the world with its 800 million plus users, is now preparing in issuing its very first IPO in next year’s second quarter.

The IPO of Facebook could amount to as much as $10 billion.  Nevertheless, as to whether the IPO would open in the second quarter, the Journal emphasized that it has not yet been settled.

Previously, the co-founder of Facebook and CEO Mark Zuckerberg expressed that without a doubt, his company was scheduling and preparing an IPO, however they haven’t decided yet when would that be.

Zuckerberg explained that they have made this implied guarantee to Facebook’s investors and to its employees, giving them equity.  At some point, the company will be going to make that equity–something liquidly and publicly.

On other news, the ratings agency Fitch has confirmed again the top credit rating of U.S., but the outlook was downgraded to negative at the same time as it indicated signs of slow growth, rising levels of debt, and political impasse for this decade.

Fitch, naming credit and strong economic fundamentals, on the other hand stated that the Congress’ previous failure in accomplishing a short-term discrepancy slashing down agreement could postpone more essential reforms.

Moreover, the ratings agency expressed that there was a significant ambiguity that surrounds the potential output of the economy. In general, slower growth and failures in political aspect could result in a qualified downgrade. Fitch highlighted that the negative outlook points toward a moderately exceeding fifty percent possibility of a downgrade within a two-year timeframe.