The credit rating agency Moody’s Investors Service lowered Brazil’s credit rating to “near junk status.” The decision comes two weeks after Standard and Poors warned that Brazil could lose its investment grade in the coming year if fallout from corruption investigations further slowed down economic growth. However, Moodys said the country’s coveted investment grade status is safe for now, providing some relief to investors and the government. The President of the Chamber of Deputies said that the government is trying to tackle the problem with tax adjustments. teleSUR
