São Paulo

Fitch affirms credit rating of Brazil’s São Paulo state at BB-, with negative outlook

By RT Staff Reporters · July 6, 2021 · 1 min read

RIO DE JANEIRO, BRAZIL – Fitch on Friday, 2, affirmed the rating of the State of São Paulo at BB-, with a negative outlook. According to the agency, the outlook mirrors that of Brazil.

In a statement, the agency said the sovereign’s risk profile compared to international peers reflects a “moderately high” risk that the issuer’s ability to cover debt service from its operating balance sheet could unexpectedly weaken over the forecast horizon between 2021 and 2025.

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Fitch affirms credit rating of Brazil’s São Paulo state at BB-, with negative outlook

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