Brazil Credit Outlook Raised to Positive by S&P Amid Fiscal Reform
- Currency jumps as S&P sees lower risk of reform setbacks
- Government expects more revisions to come, official says
Luiz Inacio Lula da Silva waves a Brazilian flag in Sao Gonçalo, Brazil.
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Brazil’s outlook was raised to positive from stable by S&P Global Ratings amid signs of greater certainty about the country’s fiscal and monetary policy.
S&P, which cut the nation’s credit score to junk back in 2015, cited better-than-expected data and the government’s emerging framework for fiscal policy as reasons for the outlook change.