Fitch is unlikely to upgrade Brazil's credit rating in the near-term, despite its better-than-expected economic growth, because of doubts the country will be...
SAO PAULO - Fitch is unlikely to upgrade Brazil 's credit rating in the near-term, despite its better-than-expected economic growth , because of doubts the country will be able to significantly improve public finances , a director in its sovereign ratings group said.
Moody's this week lifted Brazil's credit rating to only a notch below investment grade status, a vote of confidence to Latin America's largest economy, which lost its low-risk score nearly a decade ago. "But public finances remain a weak spot, with spillovers into confidence, the exchange rates and thus growth," he said.
Based on the agency's current expectations for growth and interest rates, that would lift its debt-to-GDP ratio from 77.8% this year to 83.9% by 2026.During a visit to New York at the end of September, he met with representatives of the three major rating agencies to discuss Brazil's credit score.Apple will reportedly debut its in-house 5G modem with the iPhone SE 4
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