Brazil's Junk Relapse Makes Its Bonds Even Riskier Than Russia
- Brazil bonds trade in line with lower-rated Bolivia debt
- In past 18 months, Brazil has suffered three rating downgrades
El-Erian: Brazil Is Stuck in a Vicious Cycle
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Brazil’s plunge into junk status may be far from finished.
On Wednesday, Standard & Poor’s stripped Latin America’s biggest country of its investment grade, lowering it to BB+ and keeping a negative outlook on its debt.