Brasília – Credit rating agency Standard & Poor’s (S&P) has upheld Brazil’s rating two grades below so-called ‘investment grade.’ S&P also reaffirmed the country’s negative outlook, which means additional downgrading of the Brazilian public debt could be in store.
Investment grade means a country is not at risk of defaulting on debt. Since February 2016, Brazil has been rated two grades below that category.
A S&P press release said that due to political uncertainty, social tensions, sluggish economic recovery, and the financial crisis going on in some states, Brazil could be downgraded even further in months to come.
*Translated by Gabriel Pomerancblum
PUBLICIDADE
