Brazil and South Africa top a list of emerging-market borrowers whose credit ratings are threatened by slowing growth and ballooning budget deficits, according to Fitch Ratings.
Credit grades across Latin America are also under pressure as the down cycle in commodity prices deepens and stagnation in Brazil’s economy pushes the entire region into contraction, Shelly Shetty, a senior director for sovereigns at Fitch, said in a conference in London Tuesday. In South Africa, the main threats are reduced long-term growth potential and fiscal slippage, said Carmen Altenkirch, a London-based director in Fitch’s sovereign group.
Brazil Energy Insight 
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