S&P upgrades Brazil’s long-term foreign currency sovereign credit rating

Friday, November 18th 2011 - 06:07 UTC

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Standard and Poor's Corp said Thursday it was upgrading the credit rating of Brazil by one notch to BBB, adding that the upgrade reflected the country’s increasing capacity to hold up against the overall deterioration in the global economic outlook. Read full article

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GeoffWard2
You have to wonder why certain mediterranean European near-basket-case countries are given higher sovereign credit ratings than Brasil.

Could it be that the Euro and the EU confer conjointly a reduced RISK, when compared to the retrenched, protectionist, increasingly individualised, economies of certain Southern Cone countries?

I guess its time for the credit rating agencies to reveal the detailed innards of their algorithms.
Nov 18th, 2011 - 07:39 pm - Link - Report abuse 0
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