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Fitch maintains Brazil’s credit rating, outlook negative

RIO DE JANEIRO, BRAZIL - Fitch rating agency on Thursday, May 27, maintains Brazil's long-term credit rating in local and foreign currency unchanged at BB-, as well as the "negative" outlook.

In a report released Thursday, Fitch said the country maintains high public debt, a rigid fiscal structure, fragile economic growth potential and a challenging political scenario that hinders the timely advancement of economic and fiscal reforms.

According to Fitch, the "negative" outlook for the country reflects risks to fiscal consolidation and economic recovery required to stabilize public debt in the medium term, following the sharp deterioration in Brazil . . .

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