MercoPress. South Atlantic News Agency
Moody's downgrades Brazil's sovereign debt to 'junk territory'
Moody's Investors Service on Wednesday joined the two other major credit rating agencies in downgrading Brazil's sovereign debt to junk territory. Moody's lowered Brazil's credit rating by two notches from Baa3 (its lowest investment-grade rating) to Ba2 and changed the country's outlook to “negative,” a move that follows similar actions by Fitch Ratings and Standard & Poor's. Read full article
Comments
Disclaimer & comment rulesRousseff says nothing will change..... which is the problem!
Feb 25th, 2016 - 09:24 am - Link - Report abuse 0And this is the result.
Oh bless! DumbAss Dilma has worked for this TGW The Liar Mantega when he was the laughingly called 'Finance Minister'.
Feb 25th, 2016 - 10:52 am - Link - Report abuse 0What is the next level? 'Bat-shit mad Brazil Nuts grade' especially coined for the problem.
You might remember last year at this time they were predicting a recovery in Brazil.
Feb 25th, 2016 - 12:27 pm - Link - Report abuse 0They'll be lucky to keep the depression under a 5% decrease
It's really scary stuff in store for Brazil, with such high public debt and a huge interest rate then to meet the interest payments this takes up a huge and growing portion of any revenues they get in, hence they are staring down the barrel at default or printing money.
Feb 25th, 2016 - 01:24 pm - Link - Report abuse 0And what does the useless cow Dilma and the PT do about this wrecking ball that will destroy Brazil............absolutely nothing, because their balls are in a sling from their base i.e. the workers unions. We'll see how they fare in a few years when Brazil is back to a subsistence economy.
Take the hit and right the ship, too hard for populists to do because they will lose their cushy jobs, never think about what's good for Brazil just for their own arse.
Brazil is a right f**k up presently.
So Brazil's sovereign debt joins Argentina's sovereign debt in the Junk Pile.
Feb 25th, 2016 - 02:05 pm - Link - Report abuse 0Time for Brazilians to choose better.
Feb 25th, 2016 - 02:10 pm - Link - Report abuse 0I sorry to see how Brazil moved from coming-soon world power to this.
Lula-dude, Petrobras scandal, Inept Dilma... What´s next? I do hope for a strong, well balanced Brazil, because that will be good for the entire region.
The public debt of Brazil in US dollars was 72 billion. IT WAS! January/2016 we repurchased $ 10 billion for 30% of what we had sold in 2007. And now, in February/2016, we repurchased 12 billion more by 25% than we had sold in 2011.
Feb 25th, 2016 - 03:17 pm - Link - Report abuse 0Excellent business.
I returned from Iran yesterday. We opened another market in Yuan. We will have to produce 8% more soybeans and corn to meet the demand of the sales contracts that were signed.
Crisis? What crisis?
https://www.youtube.com/watch?v=4jvvEKCq3IU
Hope the Olympics will be OK.
Feb 25th, 2016 - 04:53 pm - Link - Report abuse 0Brazil looks to be in real trouble.
Do not come to Brazil. This is the country from Zumbies!
Feb 25th, 2016 - 05:00 pm - Link - Report abuse 0https://www.youtube.com/watch?v=I2P6gV-TDCg&list=FLmXPTu1f8AdGlizWNiASx2A&index=34
They will feed the tourist and anybody else with NUTS,
Feb 25th, 2016 - 07:49 pm - Link - Report abuse 0its all abt Nuts,
fried , roasted , boiled , scrambled ,
its all abt nuts...
Brasshole is nuts......
Feb 25th, 2016 - 09:35 pm - Link - Report abuse 0Hahahaha
Feb 26th, 2016 - 01:18 am - Link - Report abuse 0Brazilians are buying their own bad debt
How does one tell when a Brazilain is retarded?
@7 Bras
Feb 26th, 2016 - 12:09 pm - Link - Report abuse 0“Crisis? What crisis”.
“Now is the winter of our discontent / Made glorious summer by this son of York…”,
Don't understand Bras? - ask any Brit over the age of forty.
.How does one tell when a Brazilian is retarded?
Feb 26th, 2016 - 07:29 pm - Link - Report abuse 0Nuts whole hazel nuts,
You cover them in chocolate and call them Brazil nuts ….lol
Argentina's in just as scary situation but msm has a man crush on macri
Feb 27th, 2016 - 12:47 am - Link - Report abuse 0@7 BRasshole
Feb 28th, 2016 - 12:06 am - Link - Report abuse 0“The public debt of Brazil in US dollars was 72 billion. ” Was ? When ?
Where d'you get these lovely figures ?? But I presume you are refering to Brazil's foreign debt...which, just fyg, is over 500 billion dollars.....larger than Brazil's international reserves...about 370 billion dollars. Maybe you were referring to the “public debt” of Brazil of 30 years ago....was that it ??
And before you come back with more bs, pls note that the Federal Government's debt is 2,8 trillion Reais, or 700 billion dollars.....whatever figure you look at, you soon realize that Brazil is up Shit Creek without a paddle.
BRasshole, you imbecile, while you were (allegedly) in the Middle East, why didn't you visit ISIS occupied Iraq ?.....you could have always tried selling soybeans to ISIS, and in the bargain get them to cut your stupid head off. Just think of the good you'd be doing for Brazil.
Seems Iran prefers to trade in Euros not Yuan!
Feb 28th, 2016 - 10:09 am - Link - Report abuse 0Unsure where Brasileiro went.
Just out of curiosity;
Mar 02nd, 2016 - 06:02 pm - Link - Report abuse 0- what's the Lowest Level below the status of a “Junk Territory”
- how long Brazil is most likely to take; to reach it?
@18 It depends on the rating agency. And junk of course is just an informal expression meaning either “Argentine sovereign debt instruments” or “below investment grade and with high risk.” Typically a rating below mere junk would be “junk in default” or “Argentine sovereign debt instruments.”
Mar 02nd, 2016 - 09:27 pm - Link - Report abuse 0Thanx Marti!
Mar 03rd, 2016 - 12:43 pm - Link - Report abuse 0To me, “junk in default” sounds a bit “glorifying” - like calling the Forever-Underdeveloped Countries as the “Emerging Nations”! Should't the “junk in default” simply be stamped - in red colored capital letters - as “bankrupt” instead?
And how would you answer my next question: “How long Brazil is most likely to take; to reach it?”
For once Evans-Pritchard has something about right:
Mar 03rd, 2016 - 01:56 pm - Link - Report abuse 0http://www.telegraph.co.uk/business/2016/03/02/only-the-imf-can-now-save-brazil/
@20 “ Should't the “junk in default” simply be stamped - in red colored capital letters - as “bankrupt” instead?”
Mar 03rd, 2016 - 04:31 pm - Link - Report abuse 0- Probably should, but technically countries can't go “bankrupt.” Though for Argentina it probably makes sense to create a special term that means “ so chronically unable to manage its economic and financial affairs that insolvency would be far too charitable a label.”
Technicality and theory is one thing but in reality; a “junk in default” is till called bankrupt.
Mar 03rd, 2016 - 04:36 pm - Link - Report abuse 0No, a sovereign debt in default is in default. There is no bankruptcy for countries. Insolvency and sovereign default, yes. But not bankruptcy.
Mar 03rd, 2016 - 05:39 pm - Link - Report abuse 0Recovery Eludes Brazil Economy After Biggest Dive in 25 Years:
Mar 03rd, 2016 - 09:09 pm - Link - Report abuse 0www.bloomberg.com/news/articles/2016-03-03/brazil-s-economy-shrinks-less-than-forecast-in-fourth-quarter
Speaking of failed economies.... remember when Argentina expropriated [stole] YPF from Repsol?
Mar 03rd, 2016 - 10:31 pm - Link - Report abuse 0Earnings at YPF were down 49 percent for 2015.
But of course failure under Kirchnerism is rewarded: the head guy at YPF reportedly made about US$5 million for the year.
According to Guardian: Brazil's economy slumps to 25-year low:
Mar 04th, 2016 - 12:30 am - Link - Report abuse 0http://www.einnews.com/yicha/article/314726082/Dqiul9NlXvEahN_K
Lula's house raided and searched. Lula taken into custody.
Mar 04th, 2016 - 03:08 pm - Link - Report abuse 0http://www.nytimes.com/2016/03/05/world/americas/brazil-raid-luiz-incio-lula-da-silva.html?_r=0
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!