Kenneth Rapoza – Forbes Magazine, 4/14/2014
Unlike the credit analysts at Standard & Poor’s, Fitch believes Brazil’s still BBB investment grade. The rating agency reaffirmed Brazil’s sovereign credit rating on Monday.
“The deterioration in some of Brazil’s sovereign credit fundamentals so far is within the tolerance of the ‘BBB’ rating and the authorities have engaged in policy corrections that should help reduce imbalances,” Fitch said in a press release today.
Last month, Standard & Poor’s reduced Brazil’s credit rating to BBB-, which is the final notch on its investment grade scale. Days later, they cut the outlook and credit rating for over two dozen Brazilian financial institutions.
Brazil Portal 