Possible Downgrade Reflects Reality of Economy in Brazil

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The possibility of having Brazil’s credit rating drop down from investment grade into junk status caused additional turbulence to the country’s economic market, with the stock market closing down and the US dollar appreciating. Finance Minister, Joaquim Levy, stated the measure reflects the difficulties seen in the political and economic scenarios.

“Brazil's debt ratings reflect the reality of the economy,” Levy told reporters on Thursday in São Paulo, admitting that the country may lose its investment grade as soon as the first quarter of 2016.

The . . .

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