S&P Global Keeps Brazil at BB/B, Cites External Strength Versus Fiscal Strain
S&P Global Ratings has affirmed Brazil's long- and short-term foreign and local currency sovereign ratings at 'BB/B' and kept the transfer and convertibility assessment at 'BBB-'. The ratings outlook is stable as S&P expects the country's external position - supported by commodity exports, a freely traded real and sizable reserves - to offset persi…