Brazil’s public prosecutor asked the Supreme Court to suspend the lower house speaker from his activities as a legislator, in a move that may stall impeachment proceedings against President Dilma Rousseff. Prosecutor-general Rodrigo Janot made the request Wednesday, saying Eduardo Cunha used his position for “personal benefit and illicit acts," according to a statement from... Continue Reading →

Brazil's sovereign bonds and credit default swaps widened by around 30bp Wednesday after Fitch stripped the sovereign of its investment-grade rating and lowered the credit to BB+. It was the second downgrade to junk after a similar move from S&P in September, and will further complicate the troubled financial picture in Latin America's largest economy.... Continue Reading →

Brazil’s credit rating was cut to junk by Fitch Ratings, which became the second major ratings company to strip the country of its investment grade this year. Brazil was downgraded one step to BB+ and the outlook for the grade is negative, Fitch said Wednesday in a statement. Brazil’s currency extended declines. The move could... Continue Reading →

Brazil’s stocks fell the most among major global benchmarks on concern the country may be cut to junk by a second credit-rating company because of government plans to loosen its fiscal policy. Finance Minister Joaquim Levy and President Dilma Rousseff have already agreed that he will leave the government after the president decided to reduce... Continue Reading →

Wilson Sons Ultratug Offshore, a subsidiary of Brazil Wilson Sons, has renewed lease contract with Petrobras for 2 years for 3 Platform Supply Vessels (PSV's). The PSV's , Gaivota, Albatross and Fragata, had been operating on the spot market since October last, when their contracts expired. All PSV's, 3 thousand tons, operate under Brazilian flag... Continue Reading →

Breaking news - Valor Economico reports that Min. Joaquim Levy and Pres. Dilma Rouseff have agreed to his resignation and that Rouseff has asked to make the transition smooth and discreet as to not upsets the markets. As consequence, the currency devalued almost 2% at the start of business, interest rates are up and the... Continue Reading →

Brazil’s real led declines among the world’s most-traded currencies ahead of an expected announcement that the government will lower next year’s budget target, underscoring its inability to shore up the country’s finances. President Dilma Rousseff’s supporters on the congressional budget committee will introduce an amendment to the 2016 budget bill that would allow the administration to... Continue Reading →