Moody’s Ratings has adjusted Brazil’s sovereign credit rating outlook from ‘positive’ to ‘stable’, while maintaining its ‘Ba1’ rating. This decision is attributed to slower-than-anticipated progress in addressing spending rigidity and establishing credibility concerning fiscal policy. Moody’s, which had previously upgraded Brazil to the Ba1 rating last October, also pointed to a significant deterioration in debt affordability as a factor in the outlook change. These issues, the agency noted, undermine potential gains in investment and GDP growth, despite the economic reforms underway that generally uphold Brazil’s credit quality. Concurrently, Standard & Poor’s maintains a BB rating for Brazil with a stable outlook, and DBRS also reports Brazil’s credit rating at BB with a stable outlook.
The material has been provided by InstaForex Company – www.instaforex.com
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