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LatinNews Regional Monitor: Brazil & Southern Cone - 10 April 2018

In brief: Brazil

* In a surprise move, credit ratings agency Moody’s has upgraded Brazil’s outlook from 'negative' to 'stable', but its rating remains below investment grade at 'Ba2'. This goes against the decisions of other major credit ratings agencies. In a statement, Moody’s justified the upgrade by expressing optimism that President Michel Temer’s fiscal reforms would be approved by the next government and that the domestic economy would recover in the short-to-medium term.