Parana Gets Baa3

Parana Gets Baa3

Brazil Corporate & Sovereign Strategy

Moody’s has assigned a Baa3 rating to the Brazilian state of Parana, it says. The rating joins previous BBB minus/BBB minus marks. Moody’s highlights the state’s improving revenues and declining debt levels. “Considering capital revenues and expenditures Parana has recorded roughly balanced results. Fiscal outcomes have been mainly positive averaging 3.6% of total revenues and only recording a very small deficit in 2012 of 0.5%,” Moody’s says. The outlook is stable. The state has been mentioned

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