S&P rates Sao Paulo BBB-

Standard & Poor's said it assigned a BBB- foreign- and local-currency credit ratings and brAAA national-scale rating to the State of Sao Paulo.

The outlook is stable.

The agency said it expects the state's credit quality to strengthen gradually but continually over the medium term. This is because of the structural anchor provided by the institutional framework, S&P said, as well as its strong and well-diversified economic structure.

Sao Paulo is the main engine of Brazil's economy, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.