Brasília - Ratings agency Standard & Poor's (S&P) downgraded Brazil's credit rate three levels below the investment grade, with a stable outlook. The downgrade was announced this Thursday (Dec. 11) night.
Finance Ministry is convinced that Brazil has conditions to absorb the current negative shock in some items' prices of export products, in addition to fiscal imbalances resulting from increased public spending.
Commenting on Brazil's credit rating downgrade by Fitch agency, the Finance Ministry issued a statement Thursday (Oct. 15) reaffirming its confidence in the Brazilian economy's ability to return to a growth cycle after the government budget for 2016 is approved.