Moody’s Investors Service cut Brazil’s credit rating to near-junk status on Tuesday but said the country’s coveted investment grade status is safe for now, proving some relief to investors and the government of President Dilma Rousseff.
Moody’s decision comes two weeks after competing ratings firm Standard & Poor’s warned Brazil could lose its investment grade in the coming year if fallout from a number of corruption investigations further weigh on economic growth.
via CNBC
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Alfonso Esparza