Fitch Ratings said on Thursday it will reevaluate Brazil’s fiscal trends, which are key for its decision on whether to downgrade the country’s credit ratings, after the government slashed its budget savings targets for this year and next.
Brazil’s new fiscal savings goals are below what Fitch had estimated in April, when it decided to slap a negative outlook on the country’s BBB credit rating, Fitch analyst Shelly Shetty said in a statement.
A negative outlook signals the rating may be downgraded over a period of 12-18 months.
Brazil Energy Insight 
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