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Weekly Report - 26 March 2015 (WR-15-12)

BRAZIL: Not downgraded yet

While the economic and political news from Brazil has been almost uniformly grim of late, the government did receive a minor respite this week, with the news that the credit rating agency Standard & Poor’s would not downgrade Brazil’s investment status. It remains at BBB- with a stable outlook. The note that accompanied the agency’s decision expressed confidence that the measures being taken by the government would eventually “restore credibility and open the way to a stronger growth period this year and the next”. The Real even climbed a little from its 12-year low against the US dollar on the back of the news.

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