Brazil lashes out at S&P, vows to make amends

Brazil lashes out at S&P, vows to make amends

Corporate & Sovereign Strategy

Brazilian policymakers have reacted harshly at S&P’s rating downgrade, saying that many of the agency’s arguments were “unfounded” and vowing to respond firmly to the macroeconomic challenges the country faces. S&P lowered Brazil’s credit rating to BBB- on Monday, saying the country faced sluggish growth and a deteriorating fiscal balance. The country’s central bank and the finance ministry issued statements on Tuesday criticizing S&P for its decision, and promising to stand up to the country’s

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