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Is Brazil “Investment Grade” for Investor’s Money, Too?
Brazil is a lot like a person who gets a new job, pays off some of his debts, and has his credit score upgraded.
In pretty short order, all the charge-card companies boost his credit limits, cut the interest rates he’s paying on his outstanding balances, offer him new credit lines – and even make him eligible for various “rewards” programs that give him all sorts of freebies for spending money.
Brazil finds itself in that situation because uber-debt-rater Standard & Poor’s just boosted the country’s credit rating to “investment grade” in recent weeks, moving its rating from BB+ to…
15May2008 | Money Morning | Comments Off | Continued
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