Brazil Foreign Debt Outlook Raised to Positive by S&P
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Brazil’s foreign debt rating outlook was boosted to positive by Standard & Poor’s, which cited strengthening prospects for long-term economic growth.
S&P, which rates Brazil BBB-, the lowest investment grade, said in a statement that the government of Latin America’s biggest economy “has reaffirmed its commitment to support recent macroeconomic gains by continuing to adjust fiscal, monetary, and credit policies.” S&P’s outlook shift from stable comes less than two months after Fitch Ratings lifted Brazil’s rating to BBB, or two levels above junk.