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Fitch reaffirms Brazil’s rating at ‘BB-‘ and maintains a negative outlook

RIO DE JANEIRO, BRAZIL - Fitch maintained the long-term rating in foreign and local currency of Brazil at "BB-" and the negative outlook.

In a report published on Tuesday (14), the rating agency pointed out that the country has a diversified economy and a high per capita income compared to other countries, can absorb external shocks, and has moderate external imbalances and sufficient international reserves.

On the other hand, this is balanced by high government borrowing and debt needs, a rigid fiscal structure, weak potential growth, and a complicated political environment.

"The negative rating outlook reflects risks to the economy . . .

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