S&P pushes Brazil credit rating further into junk to BB-

International credit ratings agency Standard and Poor's on Thursday pushed Brazil further into junk territory, lowering the long-term ratings of Latin America's biggest economy to BB-.S&P said that despite "various policy advances" by the government of President Michel Temer, "Brazil has made slower-than-expected progress in putting in place meaningful legislation to correct structural fiscal slippage and rising debt levels on a timely basis."There was added uncertainty with Brazilian presidential elections later this year, it said.The agency kept Brazil's short-term rating at B.It said there was "less than one-in-three likelihood" of...

Read More »

By: France 24 - 6 days ago

Related Posts