Brazil rallies as investors reassess S&P blow, but IG rating in danger

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Brazil rallies as investors reassess S&P blow, but IG rating in danger

Oliver West
July 29, 2015 03:45 AM
Brazil Lava Jato Petrobras 230x150
People take part in a demonstration in front of the headquarters of Petrobras in Rio de Janeiro, Brazil, on March 11, 2015. The demonstrators showed their support to the federal judge Sergio Moro, responsible of the investigations of the case Lava Jato, about the corruption in the state oil company Petrobras, according to local press. (Xinhua/Daniel Castelo Branco/Agencia o Dia/AGENCIA ESTADO)***BRAZIL OUT*** XINHUA /LANDOV | [E]AE/LANDOV/Press Association Images

Brazil and Standard & Poor’s rating actions have a peculiar relationship. In March 2014, S&P downgraded the sovereign to BBB- but the bond market subsequently rallied as the rating agency offered a stable — rather than negative — outlook.

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Oliver West
US Bureau Chief - Latin America Editor
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