January 11, 2018 / 10:24 PM / 9 days ago

BRIEF-S&P Says Brazil Long-Term Ratings Lowered To 'BB-' On Less Timely And Effective Policymaking

Jan 11 (Reuters) -

* S&P SAYS BRAZIL LONG-TERM RATINGS LOWERED TO ‘BB-’ ON LESS TIMELY AND EFFECTIVE POLICYMAKING; OUTLOOK IS STABLE

* S&P SAYS ARE ALSO AFFIRMING BRAZIL‘S ‘B’ SHORT-TERM SOVEREIGN CREDIT RATINGS

* S&P SAYS WEAKENING OF INSTITUTIONAL ASSESSMENT OF BRAZIL REFLECTS SLOWER-THAN-EXPECTED PROGRESS

* S&P -WEAKENING OF BRAZIL‘S INSTITUTIONAL ASSESSMENT REFLECTS LOW SUPPORT BY POLITICAL CLASS TO PUT IN MEANINGFUL LEGISLATION TO CORRECT STRUCTURAL FISCAL SLIPPAGE TIMELY

* S&P - RECENT POLITICAL DEVELOPMENTS IN BRAZIL ALSO FORESHADOW THE RISK OF GREATER POLICY UNCERTAINTY AFTER NATIONAL ELECTIONS LATER THIS YEAR

* S&P SAYS IN ITS VIEW, BRAZIL‘S GROWTH PROSPECTS HAVE BEEN AND WILL CONTINUE TO BE BELOW THOSE OF OTHER COUNTRIES AT A SIMILAR STAGE OF DEVELOPMENT

* S&P SAYS MILD IMPROVEMENT IN BRAZIL'S ECONOMY, LOW NET EXTERNAL DEBT MAY FURTHER LIMIT POLITICAL PRESSURE ON GOVERNMENT TO ACT ON FISCAL SHORTCOMINGS IN NEAR TERM ‍​ Source text : (bit.ly/2mjsRAJ)

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