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S&P revises Brazil's outlook to negative

SAO PAULO- Standard& Poor's Ratings Services said on Tuesday it has revised the outlook for Brazil's foreign-currency debt from stable to negative. The ratings agency said in an emailed statement that it has kept Brazil's BBB- long-term foreign-currency sovereign credit rating and the country's BBB+ long-term local-currency sovereign credit rating.
Source: The Associated Press
UPDATE 1-Brazil investment grade rating is at risk, S&P warns

The statement, which sent Brazil's currency tumbling, is a setback to Finance Minister Joaquim Levy's efforts to win back investor confidence in the country's economy, Latin America's largest, now in recession. S&P affirmed Brazil's credit rating of BBB-minus, the agency's lowest investment grade rating, and revised the outlook on that rating to negative...
Source: Reuters | By: Walter Brandimarte
UPDATE 2-Judge rules Chicago pension reform law is unconstitutional

CHICAGO, July 24- A law aimed at shoring up two of Chicago's financially shaky public worker retirement systems violates pension protections in the Illinois constitution, a judge ruled on Friday. Pension payments are devouring bigger chunks of budgets for Illinois and Chicago and both face crippling spending cuts or big tax increases if those payments are...
Source: Reuters | By: Karen Pierog
UPDATE 1-Fitch to reevaluate Brazil fiscal trend after new savings goals

SAO PAULO, July 23- Fitch Ratings said on Thursday it will reevaluate Brazil's fiscal trends, which are key for its decision on whether to downgrade the country's credit ratings, after the government slashed its budget savings targets for this year and next. Brazil's new fiscal savings goals are below what Fitch had estimated in April, when it decided to slap a...
Source: Reuters
ANALYSIS-Brazil's investment grade credit rating at risk again

RIO DE JANEIRO, July 7- Concerns that Brazil may lose its coveted investment grade credit rating are again on the rise among government officials and investors who worry that President Dilma Rousseff's austerity push won't fully offset plunging government revenues. As Brazil prepares for a crucial ratings review by Moody's Investors Service in the third...
Source: Reuters | By: Walter Brandimarte
UPDATE 1-S&P cuts Chicago Board of Education's GO rating to 'BBB'

CHICAGO, July 2 (Reuters)- Standard& Poor's Ratings Services on Thursday dropped the credit rating for the Chicago Board of Education two notches to BBB, warning the rating could fall further if the financially troubled school district does not produce a "credible" budget. Reaction to the downgrade from the Chicago Public Schools (CPS) and Chicago Mayor Rahm...
Source: Reuters | By: other agencies, budget status)
S&P downgrades Chicago Board of Education's GO debt rating to 'BBB'

July 2- Standard& Poor's Ratings Service lowered its rating on the Chicago Board of Education's general obligation bonds to' BBB' from' A minus', citing the board's "structural imbalance." The rating agency said the downgrade reflects its view of the challenges facing the board to maintain sufficient liquidity. S&P also placed the Board on CreditWatch with...
Source: Reuters
S&P lifts rating of California debt, signaling fiscal health

SAN FRANCISCO, July 2- Standard& Poor's Rating Agency upgraded California's general obligation debt on Thursday to "AA-" from "A+," marking another sign of the state's financial recovery. S&P credit analyst Gabriel Petek cited California's newly enacted budget, "which, in our view, marks another step forward in the state's journey toward improved fiscal...
Source: Reuters | By: Robin Respaut