Brazil's Unprecedented Torrent of Downgrades Is Set to Get Worse
- Fitch says downgrades may outpace upgrades by 10-to-1
- More than half of companies have negative outlooks, Fitch said
Is Brazil on the Brink of a Depression?
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Amid Brazil’s economic and political tumult, the nation’s businesses have seen a record number of downgrades this year -- and the total is about to get worse.
Fitch Ratings estimates it may slash the ratings of as many as 10 companies for every one it upgrades in 2016. Fitch said that grim scenario is most likely if it chops Brazil’s grade, an ever-growing possibility as the country’s woes deepen.