S&P feels 'comfortable' with Brazil at investment grade: Schineller

Reuters

RIO DE JANEIRO (Reuters) - Standard & Poor's said on Monday it does not expect to further cut Brazil's credit rating in the short term after downgrading the country to its lowest investment-grade level.

"We just revised Brazil's outlook to stable, we don't expect any more changes in the short term," S&P's analyst Lisa Schineller told reporters in a teleconference. "We are very comfortable with Brazil at an investment-grade category."

S&P on Monday cut Brazil's rating to BBB minus, while revising the rating outlook to stable from negative.

(Reporting by Walter Brandimarte; Editing by Bernard Orr)

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