Standard & Poor’s has raised its outlook on Brazil’s credit rating to positive from stable, praising the Latin American country for diversifying its economy, increasing exports and fostering the growth of the middle classes.
The rating agency’s more bullish view follows Fitch’s upgrade to Brazil’s local and foreign currency debt to BBB in April this year and comes at a time when several European countries are struggling to emerge from the global financial crisis and suffering downgrades.
The rating agency’s more bullish view follows Fitch’s upgrade to Brazil’s local and foreign currency debt to BBB in April this year and comes at a time when several European countries are struggling to emerge from the global financial crisis and suffering downgrades.
