Arab Today, arab today fitch switches outlook on brazils bbb rating to negative
Last Updated : GMT 02:56:36
Arab Today, arab today
Arab Today, arab today

Fitch switches outlook on Brazil's BBB rating to negative

Arab Today, arab today

Arab Today, arab today Fitch switches outlook on Brazil's BBB rating to negative

Fitch Ratings lowered
Paris - AFP

Fitch Ratings lowered Thursday the outlook on Brazil's investment grade BBB rating to negative, warning that government efforts to turn around the economy risked 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.
The Brazilian economy, the world's seventh-largest, stagnated with just 0.1 percent growth last year as the drag of rising inflation erased the effect of hosting the football World Cup in June and July and gearing up for the Rio Olympics next year.
A recession of 1.0 percent is expected this year.
"Brazil's three-year growth average of only 1.5 percent, compared to the 'BBB' median of 3.2 percent, highlights the structural nature of the under-performance," said Fitch.
Of the BRICS group of emerging economies -- Brazil, Russia, India, China and South Africa -- Brazil posted the lowest growth for 2014.
The government of President Dilma Rousseff has launched an effort to turn the economy around, which Fitch said "if effectively implemented, could lead to a revival in confidence and growth in 2016 and beyond..."
But it noted "downside risks" to its effective implementation, warning "additional domestic and external shocks could undermine the pace and scope of the adjustment process."
A $4-billion kickbacks scandal at state oil giant Petrobras has tarnished Brazil's largest company and President Dilma Rousseff's party.
Rousseff, who began her second term in office this year, has seen her approval rating plunge to 19 percent, and more than 1.5 million Brazilians took to the streets last month to protest her government.
Fitch said "the government could confront challenges in progressing on its legislative agenda, which is important for it to meet its fiscal targets and restore broader confidence."
Rival ratings agency Standard & Poor's last month held its rating for Brazil at BBB-, the lowest investment grade rating, instead of downgrading it to junk, after the government convinced the agency is serious about economic reforms.
Moody's has Brazil rated at Baa2, a similar level to Fitch, with the outlook negative but not on watch for an immediate downgrade.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fitch switches outlook on brazils bbb rating to negative Arab Today, arab today fitch switches outlook on brazils bbb rating to negative

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday