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(Reuters) – The rating agency Standard & Poor's maintained Thursday the rating badigned to Brazil's sovereign bond in BB-, with a stable outlook, hinting at a slow improvement in the fiscal position and "The stable outlook reflects our vision that the Bolsonaro government will move forward, with Congressional support, to gradually improve fiscal deficits, although public debt will continue to decline." We also expect a moderate acceleration in economic growth and growth. an improvement in investor confidence after waiting before the elections, thanks to some improvement in the fiscal profile and the resumption of credit operations ", added S & P.
S & P
S & P said that it could increase the country's rating over the next two years if the magnitude Brazil's growth and growth than currently expected, but this would require the implementation of a successful structural fiscal policy and better GDP growth prospects.
On the other hand, S & P warned of the risk of downgrading the ratings next year if Brazil's balance of payments presents an unexpected weakness that impedes market access or generates a sharp increase external debt.
The agency also indicated that the current rating badigned to sovereign debt Brazil reflects the slow progress made by the country and the weak political support that has been granted to the adoption of the new debt. important legislation to address quickly the structural fragility of public finances in recent years.
(By Aluísio Alves)
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