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Montevideo, January 25th 2022 - 07:58 UTC

Tag: Rafael Guedes

  • Monday, May 9th 2016 - 11:29 UTC

    Fitch downgrades Brazil's sovereign debt into junk territory, as political crisis deepens

    Henrique Meirelles, a likely finance minister if Vice President Michel Temer becomes president, said the first step Brazil must take is to establish realistic targets.

    Fitch Ratings downgraded Brazil's sovereign debt further into junk territory on Thursday, citing a deeper-than-expected economic contraction and changing fiscal targets that have undermined credibility. The agency downgraded Brazil to BB from BB+ with a negative outlook a week before a Senate vote that is expected to lead to the suspension of unpopular leftist President Dilma Rousseff.