Brazil Hit With Second Junk Rating

Financial Times, 12/16/2015

It’s official. Brazil has now been stripped of its investment grade status by two major credit rating agencies, potentially heralding the start of further selling in Brazilian assets.

Fitch Ratings on Wednesday downgraded Brazil by one notch to BB+, with a negative outlook. The agency cited the country’s worsening economic outlook and growing political crisis as reasons behind the move.

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