Brazil Real Fluctuates as Bond Tax Elimination Adds to Uncertainty (EWZ) (BZF)
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S&P Cuts Outlook on Brazil to Negative, Affirms Ratings
June 7, 2013 6:19 AM EDTStandard & Poor's Ratings Services said it revised the outlook on its long-term ratings on the Federative Republic of Brazil to negative from stable. At the same time, we affirmed our 'BBB' long-term and 'A-2' short-term foreign currency sovereign credit ratings on Brazil. We also affirmed our 'A-' long-term and 'A-2' short-term local currency sovereign credit ratings. The transfer and convertibility assessment is unchanged at 'A-'. Similarly, our 'brAAA' national scale rating on Brazil remains unchanged, and the outlook on the national scale rating remains stable.
"The credit ratings on Brazil reflect its well-established political institutions, diversified... More
