S&P downgrades Brazil's sovereign ratingStaff Writer | January 12, 2018
S&P Global Ratings downgraded the sovereign ratings of Brazil citing less timely and effective policymaking.
LatAm To 'BB-' from 'BB'
S&P said Brazil made slower-than-expected progress in putting in place meaningful legislation to correct structural fiscal slippage and rising debt levels on a timely basis.
According to S&P, the absence of cohesive political support for corrective economic measures diminishes the prospects for a solid and prompt response following the 2018 elections. ■