S&P keeps Brazil's investment grade status

Standard & Poor's (S&P) has kept the current credit rating for Brazil's government debt, with a stable outlook. Rated BBB-, the country is still regarded by the agency as a safe destination for investors' money.

BBB- is in the lower range of the investment grade tier. A stable outlook means that the country is not likely to be lowered in the medium term.

In March 2014, S&P lowered Brazil's rating from BBB to BBB-, citing concern over public finance
and sluggish economic growth.

The agency said the current rating reflects the expected deterioration of the 2015 economic scenario and the challenges that the government is facing this year like recovering fiscal balance. Brazil has been in the investment grade range since 2008.

Translated by Mayra Borges