The Fitch rating agency downgraded Thursday the sovereign rating of Brazil, which now is only one step above junk status (“junk”).
Fitch reduced its rating from BBB to BBB- by preventing the deterioration of public finances and a prolonged recession could bring the country out of the category of investment.
The agency accompanied this note a negative outlook, suggesting that further deterioration is not ruled out in the coming year
Standard & amp. Poor’s has already reduced last month note Brasilia in category “junk”, to BB +.
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