waltermasoni
Caribbean Trader
Brazil Outlook Revised To Positive On Prospects For Sustained Fiscal Improvements; 'BB-/B' Ratings Affirmed
- 11-Dec-2019 16:58 EST
- Table of Contents
- The government continues to implement fiscal consolidation measures aimed at reducing Brazil's still large fiscal deficit.
- This, along with lower interest rates and gradual implementation of the reform agenda, should contribute to somewhat stronger growth and investment prospects over the next three years, as well as a gradual improvement in fiscal outcomes.
- We are revising our outlook on Brazil to positive from stable and affirming our 'BB-' long-term and 'B' short-term sovereign credit ratings.
- The positive outlook reflects prospects for an upgrade in the next two years if further progress--be it prioritization, passage, or execution--on the government's broad fiscal and growth agenda allows for a more rapid reduction in Brazil's fiscal deficits and a stabilization of debt dynamics.