Brazilian Government Bonds: Risk Lowest as Fitch Upgrades
May 30th, 2008 | By Contrarian Profits | Category: Featured, Financial NewsThe risk of owning Brazilian government bonds fell to its lowest level since May 9, as ratings agency Fitch raised the emerging market’s credit rating to investment grade. This from Bloomberg:
Fitch raised Brazil’s foreign-currency debt rating to BBB-, the lowest investment-grade level, from BB+, matching a move made by S&P on April 30. The increase will give the South American country better access to capital markets because some institutional investors can only buy securities issued by countries with at least two investment-grade ratings.