S&P pushes Brazil credit rating further into junk to BB-

FILE: International credit rating agency Standard and Poor's on Thursday pushed Brazil further into junk territory. Photo: AFP / Emmanuel Dunand

WASHINGTON - International credit rating agency Standard and Poor's on Thursday pushed Brazil further into junk territory, lowering the long-term ratings of Latin America's biggest economy to BB-.

S&P said that despite "various policy advances" by the government of President Michel Temer, "Brazil has made slower-than-expected progress in putting in place meaningful legislation to correct structural fiscal slippage and rising debt levels on a timely basis."

AFP

Discussion Policy

eNCA.com would like to send you push notifications.
Notifications can be turned off any time in your browser settings.
You have been registered for browser notifications