You are here

S&P cuts Brazil to junk status; bonds, Petrobras hit

A man walks past the stock quotation board on the floor of Brazil's BM&F Bovespa Stock Market in Sao Paulo August 24, 2015.


BRAZILIAN bonds fell and shares of Petroleo Brasileiro tumbled in Germany after Standard & Poor's cut the sovereign's credit rating to junk, fuelling bets outflows will accelerate from this year's worst-performing Brics market.

Yields on Brazil's US$4.3 billion of 4.25