Fitch cuts Brazil rating, says investment grade at risk

[SAO PAULO] Fitch Ratings on Thursday cut Brazil's credit rating to the brink of junk, warning the country could soon lose its coveted investment grade rating as government finances deteriorate amid a prolonged recession.

Fitch cut Brazil's rating to BBB-minus from BBB. It left a negative outlook on the new rating, suggesting another downgrade is possible over the next year or so.

REUTERS