Outlook rerated to negative from stable
Standard & Poor's lowered the outlook for Brazil's long-term rating from "stable" to "negative", according to the press service of the rating agency.
As stated by the agency, the sovereign rating was lowered due to the high level of public debt and the great dependency of the country on financing of the economy. Total volume of investment in Brazil in 2012 made over 18% of GDP.
Short-term sovereign credit rating in foreign currency affirmed at BBB and A-2, and short-term sovereign credit rating remained at A-and A-2.
According to agency’s analysts, in 2013 Brazil's economy will grow by 2.5%.
