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Brazil’s Sovereign Ratings Raised by S&P on Government Policies

Brazil had its sovereign ratings raised by Standard & Poor’s Ratings Services, which said President Dilma Rousseff’s administration has increased the scope of using monetary policy to influence the economy.

The long-term foreign currency sovereign credit ratings were upgraded to BBB from BBB- and the long-term local currency ratings were raised to A- from BBB+. The outlook is stable.