Fitch Downgrades Brazil To Speculative Level Editorial Image

Rio de Janeiro, Brazil, 16th December 2015: The risk rating agency Fitch downgraded the level of Brazil's investment to speculative level. Devaluation of the real, political crisis, unemployment and corruption scandals that reach the government of Dilma Rousseff contributed to the downgrade. Real, the Brazilian currency suffered sharp depreciation against the US dollar due to the worsening political and economic crisis that Brazil is going through. There downturn in various sectors of the economy, rising unemployment and rising inflation. Thousands of jobs are being closed, many of them in companies that provided services to Petrobras, which passes through adjustments after corruption scandal involving members of political parties linked to the government.