By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – International ratings agency Standard & Poor's (S&P) announced on Friday it was maintaining Brazil’s ratings two levels below investment grade and reaffirmed the negative outlook for the country.
Government officials, however, downplayed the negative outlook stating that the ratings companies would revise their outlooks once Brazil's Congress passes the much needed economic reforms.
“The negative outlook reflects the risk that the government's strategy to stabilize the economy and its fiscal position could be undermined by fluid political dynamics following three years of recession and by potential . . .
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