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25 February, 2018 00:00 00 AM

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Fitch boots Brazil deeper into junk rating

AFP

AFP, RIO DE JANEIRO: Fitch agency cut Brazil's sovereign debt rating again Friday, sending it deeper into junk status after the government gave up on attempts to get approval for pension reforms.

The long-term foreign currency issuer default rating was cut belowinvestment grade, from BB to BB-.

"Brazil's downgrade reflects its persistent and large fiscal deficits, a high and growing government debt burden and the failure to legislate reforms that would improve the

structural performance of public finances," Fitch said in a statement.

 

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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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