Brazil No Longer a Bottom Feeder
Comments (0) At least at Fitch, Brazil is no longer sitting at the bottom of the ratings. Today, the U.S. based rating agency, upped Brazil’s credit rating from BBB- to BBB in part, says the Brazilian business magazine EXAME, because the country “has signaled that it’s serious about improving its fiscal position,” signals that include spending cuts, a modest increase in the minimum wage, and a steady reduction in loans from Treasury to Brazil’s development bank BNDES.
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