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

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

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

Continue Reading Below

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.