Tag: rating
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Unlike S&P, Fitch still sees elements supporting Brazil’s investment grade
Fitch Ratings still sees elements supporting Brazil’s investment grade, a senior analyst with the ratings firm said on Thursday, easing market fears the agency could follow Standard & Poor’s decision to cut the country to junk. Speaking at a Fitch conference in New York, analyst Shelly Shetty said that Brazil’s credit rating is deteriorating and…
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Moody’s reduce Brazilian sovereign rating but stable outlook reduces chance of losing investment grade
Moody’s rating agency announced on Tuesday the downgrade of Brazil’s sovereign risk rating from ‘Baa2’ to ‘Baa3’, the lowest in the investment grade scale. Moody’s also changed the outlook from “negative” to “stable”. The market was expecting the reduction in the Brazilian rating, but there was a concern that the agency would maintain a negative…