Standard & Poor's cuts Brazil's rating again
S&P had been the first to remove Brazil's investment grade status , in September last year. 
Five months after removing Brazil's good payer seal, credit rating agency Standard & Poor's (S&P) once again downgraded the country. The rating was reduced from BB+ to BB. The firm also gave Brazil a negative outlook, which means further reductions may be on their way in the upcoming months.
S&P had been the first to remove Brazil's investment grade status (which works as a guarantee that the country will not default on its public debt), in September last year. In December, Fitch followed suit. Among the world's three main agencies, Moody's was the only which kept the country's good payer status.
When S&P downgraded the country for the first time, the agency mentioned the deterioration of the political scenario and fiscal problems as factors disturbing the stability of Brazil's public debt. This time, the company has not released an opinion yet.
Through his press office, the finance minister announced he plans to release a note on the change, but provided no further details.
Translated by Fabrício Ferreira
Fonte: Standard & Poor's cuts Brazil's rating again
