Fitch downgrades seven Brazilian states and cities

Fitch downgrades seven Brazilian states and cities

Brazil Corporate & Sovereign Strategy

Fitch has downgraded the states of Sao Paulo, Santa Catarina and Parana, and the cities of Sao Paulo and Rio de Janeiro, to BB+ from BBB-, following the downgrade of the sovereign to BB+. It also slashed the states of Maranhao and Rio

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