Moody's cuts Brazil credit rating to junk
Moody's became the third big agency to cut Brazil's credit rating
Rio de Janeiro - Arab Today
Moody's became the third big agency to cut Brazil's credit rating to junk Wednesday, citing mounting debt and political instability in Latin America's biggest country.
Cutting the credit rating by two notches to Ba2, Moody's said Brazil suffered a "low growth environment," worsening debt, and "challenging political dynamics." Junk status had already been given by Fitch and S&P.
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