Standard & Poor’s said it may cut Brazil’s credit rating to junk, citing the country’s political and economic challenges amid an ongoing corruption probe.
The ratings company said in a statement Tuesday it revised the outlook on Brazil’s rating to negative from stable. The country’s rating from S&P is already at BBB-, the lowest investment grade.
The change comes as President Dilma Rousseff and her economic team led by Finance Minister Joaquim Levy duels with Congress to shore up fiscal accounts and preserve the nation’s investment-grade rating.
Brazil Energy Insight 
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