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Brazil Returns to Junk as Bonanza Ends and Crisis Traps Levy

S&P downgrades credit rating to BB+ with negative outlook
Levy reaffirms Brazil's commitment to fiscal consolidation

Bloomberg business news — Brazil's Credit Rating Downgraded to Junk

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September 10, 2015, 3:52 AM UTCUpdated onSeptember 10, 2015, 1:10 PM UTC

Brazil is junk -- again.

Seven years after Standard & Poor’s lifted the nation’s credit rating to investment grade, reflecting the rising influence of emerging markets, Latin America’s largest economy has lost its vaunted designation.