Standard & Poor Downgrades Brazil’s Debt Credit To “Junk Status”

Brazil credit rating

By: Economic & Finance Report

Standard and Poor downgraded Brazil’s debt credit to “Junk”. The Bovespa stock index fell 0.33% Thursday, by end of the day. Brazil must cut spending and expenditures to increase stability to its economy.

PresidentĀ Dilma Rousseff discussed alternatives and options with her economic team, on finding certain solutions to the downgrade by Standard & Poor’s… One of the main options discussed was cutting spending drastically. Economically, Brazil is already over ten billion dollars in debt. Inflation is north of 10% and unemployment has risen drastically, over the course of a few years time.-SB

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