Brazil’s misfortunes may just be Mexico’s blessing.
On Wednesday, Fitch Ratings handed Brazil its second junk rating, which could force institutional investors whose bylaws prevent them from holding such securities to dump them. The decision sent the Brazilian real tumbling the most in emerging markets and spurred a selloff in its overseas debt.
As investors adjust portfolios, the country seen as best-positioned to benefit is Brazil’s rival, Mexico. The second-largest economy in Latin America is less dependent on commodities than most in the region and has the closest ties to the U.S.
Brazil Energy Insight 
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