October 23, 2019 / 7:13 PM / 24 days ago

Brazil pension reform 'a crucial step,' supports Ba2 credit rating -Moody's

BRASILIA, Oct 23 (Reuters) - Brazilian pension reform, approved by the Senate on Wednesday, is a “crucial step” toward putting the country’s fiscal house in order and is in line with Brazil’s Ba2 sovereign credit rating, Moody’s said on Wednesday.

“The reform and its expected savings, around 800 billion reais, supports Brazil’s credit profile and its Ba2 rating, and is incorporated in Moody’s baseline scenario,” Samar Maziad, senior analyst at the ratings agency, said in a statement.

$1 = 4.0350 reais Reporting by Jamie McGeever Editing by Leslie Adler

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