S&P Further Downgrades Brazil’s Credit Rating

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Five and a half months after withdrawing Brazil’s investment grade rating, Standard & Poor's Ratings Services lowered its long-term foreign currency sovereign credit rating for the country from 'BB+' to 'BB' and the long-term local currency sovereign credit rating to 'BB' from 'BBB-'. According to the entity the outlook for the country is now negative.

“The downgrade reflects our view that Brazil's credit profile has weakened further since Sept. 9, 2015, when we last lowered the ratings,” said the statement by the ratings agency.

“The . . .

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