Brazil

Moody’s lifts Brazil outlook to ‘stable’ on economic hope

Reuters
(Adds details from Moody's statement, context) By Bruno FederowskiSAO PAULO, March 15 (Reuters) - Moody's Investors Service on Wednesday revised upward the ratings outlook for Brazil's sovereign rating to stable from negative, saying Latin America's largest economy was poised to exit its deepest recession on record. In a statement, Moody's Vice President Samar Maziad said a stabler macroeconomic outlook is likely to bolster the government's reform agenda, supporting Brazil's Ba2 rating. Concerns over potential spillovers from fiscal woes at state-controlled oil company Petróleo Brasileiro SA <PETR4.SA> and at state governments have also abated, he added. President Michel Temer said in statement that the outlook change was recognition by Moody's of his government's "efforts to recover credibility in the Brazilian economy, reduce inflation and restore growth." Some analysts have been turning slightly more optimistic over Brazil's economic prospects amid fickle signs of a rebound as Temer advances with structural reforms. Still, many remain cautious due to corruption investigations ensnaring senior...

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