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MercoPress, en Español

Montevideo, November 22nd 2024 - 09:25 UTC

Tag: Brazil sovereign-debt

  • Thursday, February 25th 2016 - 06:50 UTC

    Moody's downgrades Brazil's sovereign debt to 'junk territory'

    “The downgrade was driven by the prospect of further deterioration in Brazil's debt metrics in a low growth environment” Moody's said.

    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.