Fitch switches outlook on Brazil's BBB rating to negative
Fitch Ratings
Paris - Arab Today
Fitch Ratings lowered Thursday the outlook on Brazil's investment grade BBB rating to negative, warning that government efforts to turn around the economy risk getting derailed.
"Brazil's continued economic underperformance, increased macroeconomic imbalances, deterioration of fiscal accounts and a material increase in government indebtedness are increasing downward pressure on the sovereign credit profile," Fitch said in a statement.
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