Poll: Brazil set to lose investment grade by end-2016

Brazil will probably lose its investment-grade status from more than one rating agency by end-2016, according to most market participants polled by Reuters after S&P revised the country’s outlook to negative on Tuesday.

Twenty-three of the 28 respondents believe Standard & Poor’s will downgrade Brazil’s credit rating to junk status by the end of next year, and 20 expect at least one other agency to follow suit.

Most of those who do not see a downgrade coming next year think it is only a matter of time: only two respondents expect Brazil to retain its investment-grade status by end-2018, when President Dilma Rousseff leaves office.

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