By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – Credit ratings agency Moody’s downgraded Brazil’s ratings on Tuesday (August 11th) from Baa2 to Baa3, but improved the country’s outlook from negative to stable. According to the ratings agency, a weaker economic performance, a lack of political consensus over fiscal reforms and the government’s rising debt burden were key factors for the downgrade.
With the change in the rating, the country is now one level from being downgraded below investment grade.
“In Moody's view, Brazil retains a number of credit strengths that are reflected in . . .