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BRIEF-S&P says Brazil's 'BB' long-term ratings placed on Creditwatch negative on increased political uncertainty
May 22, 2017 / 11:46 PM / in 5 months

BRIEF-S&P says Brazil's 'BB' long-term ratings placed on Creditwatch negative on increased political uncertainty

May 22 (Reuters) -

* S&P revises brazil sovereign credit outlook to creditwatch negative from negative; current rating is BB

* S&P - Brazil ‘BB’ long-term ratings placed on creditwatch negative on increased political uncertainty

* S&P - following recent corruption allegations against president Michel Temer, Brazil’s political backdrop has once again become more complicated

* S&P on Brazil- Placing ‘bb’ long-term foreign and local currency sovereign credit ratings on Creditwatch with negative implications

* S&P - Affirmed the short-term foreign and local currency ratings of brazil at ‘B’

* S&P on Brazil- In 2017, expect general government deficit of 8.8% of GDP to decline to 6.6% by 2019

* S&P- Near-term uncertainties on president temer’s political viability, potential for prolonged transition process heightened downside risk to brazil rating

* S&P on Brazil- Creditwatch listing with negative implications reflects risk that could lower ratings over next 3 months amid more stressed political dynamics Source text : bit.ly/2qIFFnE

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