RIO DE JANEIRO, BRAZIL - Fitch rating agency reduced the outlook for Brazil's public debt from stable to negative. The decision was released on Tuesday evening, May 5th, and comes two years after the agency stated that it did not intend to revise the country's rating.
The stable outlook means that the agency may reduce the country's rating in the coming months or years. Currently, Fitch grants a BB- rating for Brazil, three levels below investment grade, a guarantee that the country does not run the risk of writing off the public debt. The stable outlook suggested that . . .