Free Trial

Fitch Affirms at 'BB-'; Outlook Negative

BRAZIL

Brazil's ratings are supported by:

  • Its large and diverse economy.
  • High per capita income relative to peers.
  • Capacity to absorb external shocks underpinned by its flexible exchange rate, moderate external imbalances, robust international reserves and deep domestic government debt market.

The Negative Outlook reflects:

  • The severe deterioration in Brazil's fiscal deficit and public debt burden during 2020.
  • Persisting uncertainty regarding fiscal consolidation prospects, including the sustainability of the 2016 spending cap (the main fiscal policy anchor) given continued spending pressures.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.