E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 7/6/2009 in the Prospect News Emerging Markets Daily.

Moody's may up Brazil

Moody's Investors Service said it has placed Brazil's Ba1 foreign- and local-currency government bond ratings on review for possible upgrade.

The review was prompted by the economy's demonstrated resilience to shocks over the past year, the agency said, adding that Brazil's Baa3 country ceiling for foreign-currency bonds and Ba2 country ceiling for foreign-currency bank deposits were also placed under review for possible upgrade.

Brazil's local-currency deposit ceiling and local-currency bond ceiling are not affected by the review, the agency noted.

"As a result of a negative turn of events in the international arena, Brazil has experienced the equivalent of a severe stress test of major proportions in the past several months," said Mauro Leos, Moody's regional credit officer for Latin America.


© 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.