Brazil’s Credit Rating Cut One Level by Moody’s to Cusp of Junk

Moody’s Investors Service cut Brazil’s rating to the cusp of junk, the second time the sovereign has suffered a downgrade since President Dilma Rousseff came to office in 2011.

The ratings company decreased the country’s grade by one notch to Baa3, with a stable outlook. Standard & Poor’s cut the nation’s rating to the lowest investment grade in March 2014, Brazil’s first downgrade in a decade.

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