March 24, 2014 / 9:32 PM / 6 years ago

S&P cuts Brazil rating by one notch, stable outlook

March 25 (Reuters) - Standard & Poor’s Investor Services said it had downgraded Brazil’s sovereign credit rating by one notch to BBB minus, while changing its outlook to stable from negative.

The agency said it had also lowered its long-term local currency sovereign credit rating to BBB plus from A minus.

“Mixed policy signalling by the government, with negative implications for fiscal accounts and economic policy credibility, coupled with a subdued outlook for growth over the next two years continue to weigh on Brazil’s policy flexibility and performance profile,” the agency said.

Reporting by Wayne Cole

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