Brazil's sovereign credit rating was trimmed to junk by Fitch Ratings, which cited the deeper-than-expected recession, ballooning budget deficit and political turmoil. Fitch becomes the second major credit rating firm to downgrade Brazil to junk, mirroring a similar move by Standard & Poor’s in September.
Fitch lowers Brazil's rating to BB+ from BBB-
Fitch Ratings cut Brazil’s credit rating to junk as Latin America’s largest economy heads into its longest recession since the Great Depression amid political turmoil. As Fitch lowered the grade one step to BB+, it painted Brazil’s outlook for the rating as negative, implying that another downgrade may be in...
