Brazil: Basket case or buying opportunity?

Laura Dew

Investors were given yet another reason to steer clear of Brazil after political turmoil and high debt levels saw ratings agency Standard & Poor's downgrade the country's status from investment grade to 'junk' this month.

S&P said the general government deficit is expected to rise to an average of 8% of GDP in 2015 and 2016, before declining to 5.9% in 2017 – versus 6.1% in 2014. It cut Brazil's credit rating from BBB-minus...

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