‘Scissorhands’ Levy Is Best Chance to Avert Brazil Downgrade

Joaquim Levy helped pave the way for Brazil’s first investment-grade rating when he was treasurer a decade ago. President Dilma Rousseff now is calling on him to prevent a credit downgrade in her second term.

Rousseff is expected to appoint Levy, 53, to replace Finance Minister Guido Mantega as early as Nov. 27, according to a government official who was briefed on her plans and requested not to be named because the discussions were private. The move is part of a broader change in cabinet and policies the president pledged for her second term starting Jan. 1.