Tag: rating
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After Fitch, DBRS rating also upgraded Brazil’s credit rating to BB with a stable outlook
In their statement, the agency mentioned that the upgrade primarily reflects the decrease in risks for fiscal prospects. This is a positive sign for Brazil’s economic outlook, indicating a potentially improved fiscal situation. The credit rating agency DBRS Morningstar has upgraded Brazil’s credit rating from “BB-” to “BB,” with a stable outlook. On Wednesday (26th),…
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Fitch downgrades Brazilian sovereign rating to BB-
Credit rating agency Fitch today downgraded Brazil’s sovereign rating to “BB-” from “BB”, and changed the outlook from negative to stable. According to the agency, the cut reflects the persistence of the large fiscal deficit, a high and growing government indebtedness and the failure of legislative reforms that could improve the structural performance of public…
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S&P Downgrades Brazilian Credit Rating to BB-
Standard & Poor’s (S&P) downgraded Brazil’s sovereign credit rating from “BB” to “BB-” on Thursday. The rating was already in Junk territory, but it is now three steps below investment grade. On the other hand, the perspective for the rating has changed from negative to stable. The downgrade was already expected by the market due…
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Brazilian stocks and Real fall amid difficulty in approving pension plan reform
Brazilian financial market reacts negatively again to the noise surrounding the pension reform. According to professionals, this morning’s news brought more negative elements about the possibilities of the government being able to approve the reform, which was reflected in the dollar, interest rate hikes and in the fall of the Ibovespa stock index at the…
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Fitch keeps the Brazilian credit rating at BB, with negative outlook
Fitch Ratings reinforced Brazil’s credit rating on ‘BB’, with a negative outlook. That is, with the possibility of the classification being revised downwards in the future.According to the agency, the country’s ratings is limited by the structural weaknesses in public finances and high government debt, weak growth prospects and weaker governance indicators than the country’s…
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Funding of Brazilian companies with debt and equity jumps to R$ 192 billion (US$ 60 bi)
The wind begins to shift to the capital market in the wake of falling interest rates to near historic lows and the contraction of bank credit after two years of deep recession. Since last year, the favorable environment has opened space and consolidates a trend of strong growth for corporate debt issues, along with capital…
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Brazil Bull Who Got It Right in 2002 Says This Time No Different
The selloff punishing Brazilian markets in recent months isn’t fazing Jerome Booth. He’s seen it before and says just like then, it’s way overdone.Yes, Brazil has serious problems. The country’s “a mess,” he says, with a massive corruption investigation at state-run oil company Petroleo Brasileiro SA, a worsening fiscal outlook, the steepest recession in 25…
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JBS S.A. upgraded by Fitch Rating to BB+
JBS S.A. (BM&FBOVESPA: JBSS3, OTCQX: JBSAY, “JBS” or “Company”) communicates to its shareholders and to the Market in general that Fitch Ratings (“Fitch”), a rating agency, upgraded JBS S.A. from BB to BB+, with stable outlook. According to the Fitch report, “the upgrade reflects JBS S.A.’s strong products and geographical diversification, as well as the…
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Fitch plays down 2-notch downgrade for Brazil
A director at Fitch Ratings on Monday played down the possibility of Brazil losing its investment-grade status during its next rating revision, saying the ratings agency “does not usually” give two-notch downgrades, barring exceptional cases. However, Rafael Guedes, Fitch’s managing director for Brazil, said the possibility of an imminent one-notch downgrade is higher than 50…
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Brazil downgrade leaves little choice but austerity for Rousseff
Brazil’s government scrambled yesterday to reassure investors it will impose austerity measures to put public finances in order after its credit rating was downgraded to junk status. President Dilma Rousseff called an emergency cabinet meeting to brainstorm on policies to bridge a fiscal shortfall and how to win their approval by a Congress that has…