Reporting Services, Logon failure: unknown user name or bad password. (Exception from HRESULT: 0x8007052E)

My Reply was marked as an Answer of MSDN forums regarding this issue, kindly check out the in the following link:

http://social.msdn.microsoft.com/Forums/en-US/sqlreportingservices/thread/e21dabb5-03e4-4ad7-85d0-f076ac678eaf/#078ce0de-6d2b-4e97-8718-27e626c786dd

reportingservices

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