Opinion: Brazil’s Standard? Poor!

Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL- The seemingly inevitable has happened — Brazil has now been downgraded by Standard & Poor's, one of the three big credit risk agencies, to “speculative” status, meaning there is a risk it will not honor its debt. Many are asking “What took them so long?”

The Curmudgeon submits it is because S&P was (and its competitors Moody’s and Fitch still are) waiting to see whether Finance Minister Levy would be able to stop Subscribe to our Premium Membership Plan. Already Subscribed?