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S&P confirms BB- rating for Brazil; stable outlook

RIO DE JANEIRO, BRAZIL - Rating agency S&P Global has affirmed Brazil's foreign currency rating at BB-. The announcement was made on Tuesday, November 30. The outlook for the country's rating is stable.

"Spending pressures and the high-interest burden are likely to lead to slow fiscal consolidation, with general government net debt trending toward 75% of GDP by 2024," said S&P, which believes that the stable outlook for the grade assumes that the government will gradually stabilize its recent growth in public debt.

In the statement, the agency reiterated that Brazil has recovered faster . . .

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