May 22, 2013
Fitch upgrades Brazil on growth, spending cuts
Fitch upgraded Brazil's credit ratings by one notch, saying the country's potential economic growth has increased while the new government of Dilma Rousseff has showed greater fiscal restraint.
Fitch raised Brazil's foreign- and local-currency issuer ratings to BBB from BBB-minus. It was the first among the big-three ratings agencies to upgrade the country to the second lowest level of investment grade.
Moody's has also said it may upgrade Brazil before summer, while Standard & Poor's still has the country's at BBB-minus with a stable outlook