January 09, 2009 |
|Fitch Ratings-New York-07 January 2009: Fitch Ratings has assigned a rating of 'BBB-' to Brazil's USD1.025 billion of 10-year global bond (5.875% coupon). The rating is in line with Brazil's foreign currency Issuer Default Rating (IDR).|
Brazil's investment grade rating is supported by the significant improvement in Brazil's external and public sector solvency ratios which has diminished the vulnerability of the country to external and exchanged rate shocks. Brazil's sizable stock of international reserves and its net public sector creditor status has enhanced its ability to maneuver in the current unfavorable external environment. A track record of commitment of low inflation and a primary budget surplus have enhanced overall policy management and contributed to entrenching macroeconomic stability in the country. On the other hand, Brazil's ratings are constrained by the structural weaknesses in public finances, a heavy government debt burden, an unfavorable, albeit improving structure of domestic debt and a glacial pace of structural reforms.
|Nome completo della società||Brazil|
|Paese di registrazione||Brasile|