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Moody's says no Brazil investment grade rating before 2018
September 29, 2016 / 6:51 PM / a year ago

Moody's says no Brazil investment grade rating before 2018

BUENOS AIRES, Sept 29 (Reuters) - Brazil will not obtain an investment-grade credit rating from Moody’s Investors Services during the current president’s term, which ends in 2018, a Moody’s analyst told Reuters, adding that the country’s planned reforms are crucial for earning a stable outlook.

Mauro Leos, a senior vice president in charge of Latin American credit ratings, also said Mexico’s spending cuts would ensure that the 2017 fiscal deficit is smaller than the current year‘s. Next year’s growth will be below 3 percent but higher than the 2 percent in 2016, Leos said in an interview. (Reporting by Luc Cohen; Editing by Diane Craft)

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