Standard & Poor’s is sinking further note of Brazil’s debt and highlights corruption – RTP

 This new degradation of `rating` occurs two months after the S & P having cut in September and placed two months ago the level of waste (` junk`).
 

 The S & P justified the decision by arguing that the credit profile of Brazil crippled up since September and that the political and economic challenges remain “considerable”.
 

 Therefore, S & P expects “a prolonged adjustment process and a slower correction of budgetary policy”, predicting that the country shut down in 2016 with a contraction in gross domestic product of around 3% after the third drop 71% registered in 2015.
 

 The S & P also highlighted the disturbing environment in politics, with President Dilma Rousseff under threat of impeachment by Congress, complicating the approval of budget correction measures to stimulate the economy.
 

 The agency also highlighted the widespread corruption environment with dozens of politicians involved, as an additional ingredient that keeps the uncertainty over the country.
 

 “We believe that the current individuals and prominent companies corruption investigations, both in the public sector, and private on, and different political parties increase the short-term political uncertainty,” expressed the S & P.