Despite ratings agency S&P recently changing its outlook on Brazil to negative, Moody’s has positively surprised by changing its outlook to stable, thereby providing some breathing room to Brazil, notes Barclays. Analysts at Barclays in their August 13, 2015 research report titled: “Bear in a China shop” note the PBoC’s decision last week to devalue its currency caused reverberations in broader markets, including EM credit. Brazil in liquidity ‘sweet spot’ Sebastian Vargas and team at Barclays point out that last week witnessed mixed action on the EM-credit specific developments, with Moody’s downgrading Brazil’s sovereign rating to Baa3 from Baa2 and…
Brazil Gets Some Breathing Room From Rating Agencies: Barclays
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports