Moody's Improves Brazil's Credit Score Outlook
Risk rating agency improved outlook for Brazilian sovereign debt Ba2 rating from negative to stable
Moody's had cut the outlook for 2017REUTERS / Brendan McDermidRisk rating agency Moody's upgraded the outlook for Brazil's sovereign debt Ba2 rating to stable from negative, betting on approval of the pension reform by the next government, after criticizing last month the postponement of the vote to next year.The change comes two days after the arrest of former President Luiz Inacio Lula da Silva , who leads polls for the October elections, but is seen by the market as less committed to fiscal adjustment and contrary to pension reform. ."Moody's believes, in short, that the negative risks to growth and the uncertainties surrounding the impetus for reform, which led to the negative outlook for the Ba2 rating in May last year, have diminished," the agency said in a statement.Only among the major risk agencies not to downgrade Brazil after the pension reform was postponed, Moody's cited its expectation "that reforms to preserve fiscal sustainability and stabilize medium-term ...
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