1 Min Read
SAO PAULO, May 9 (Reuters) - Fitch Ratings will await further clarity over the approval of President Michel Temer's reform agenda before acting on Brazil's sovereign rating, the agency's managing director for Brazil said on Tuesday.
Fitch rates Brazil BB, two notches below investment grade, with a negative outlook, after downgrading Latin America's largest economy to junk status in 2015. According to Fitch director Rafael Guedes, it takes on average six years for a country to regain investment grade. (Reporting by Aluisio Alves; Writing by Bruno Federowski; Reporting by Daniel Flynn)