Brazil Credit Ratings Cut to Junk by Moody’s

  • Ratings company cuts Brazil's grade by two steps to Ba2
  • Credit metrics have deteriorated `materially,' Moody's says

Brazil’s sovereign rating was cut to junk by Moody’s Investors Service, the last of the major ratings companies to strip the country of its investment grade, as President Dilma Rousseff struggles to shore up fiscal accounts amid deepening political turmoil.

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