Published on Thursday, September 10, 2015
LatAm Daily | Brazil loses its investment grade rating from S&P
Summary
S&P downgraded Brazil’s credit rating to BB+ from BBB- sooner than expected. The decision was driven by an economic deterioration and the worse prospects for fiscal adjustment. S&P does not rule out additional downgrades, and we expect at least one of the two other main risk agencies to also withdraw Brazil’s investment grade.
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Authors
CP
Cecilia Posadas
BBVA Research - Principal Economist
ED
Enestor Dos Santos
BBVA Research - Principal Economist
JS
Jorge Selaive
JT
Juana Téllez
BBVA Research - Chief Economist
CS
Carlos Serrano
BBVA Research - Chief Economist
HP
Hugo Perea
BBVA Research - Chief Economist
MC
Marina Conesa