Funding needs leave Brazil open to shocks, Fitch says

Funding needs leave Brazil open to shocks, Fitch says

Corporate & Sovereign Strategy Credit Ratings Fitch Ratings Economy & Policy Bonds Debt Fixed Income Debenture Brazil Capital Markets Coronavirus

The Brazilian government faces an estimated BRL1.35 trillion ($239 billion) in debt maturities in the local market this year, mostly in the first half, leaving it exposed to "shocks and rollover risks," Fitch Ratings said in a report on Wednesday. Debt maturing this year equals nearly 17% of GDP, but the an array of institutional investors "with a domestic bias" could make it easier for the government to refinance in the local market, Fitch said. In addition, the government had a "liquidity buff

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