S&P revises Brazil's outlook from stable to negative

Economic Indicators Associated Press

Standard & Poor's Ratings Services says it is revising the outlook for Brazil's foreign-currency debt from stable to negative.

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The ratings agency says in a statement emailed on Tuesday that it has kept Brazil's BBB- long-term foreign-currency sovereign credit rating and the country's BBB+ long-term local-currency sovereign credit rating

However, the ratings outlook was lowered to negative because of political and economic risks facing the country and the possible impeachment proceedings against President Dilma Rousseff.