Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.834

+4.2%

Dec 3 3:59 PM EST

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To: Steve Fancy who wrote (1229)	3/17/1998 4:32:00 PM
From: Steve Fancy	of 22640

Credit ratings lag market view of Brazil risk-Bier Reuters, Tuesday, March 17, 1998 at 15:44 CARTAGENA, Colombia, March 17 (Reuters) - Brazil is in talks with ratings agencies in an attempt to boost their assessment of Brazilian risk, top government advisor Amaury Bier said on Tuesday. "The market's perception (of Brazil) is more favourable than the ratings agencies', and we're trying to discuss that with them, and give them more information," Bier told a seminar on the fringes of the annual general meeting of the Inter-American Development Bank. Bier is chief advisor to the Planning Ministry. Brazil's hard currency reserves soared to $57.4 billion in February approaching pre-Asian crisis levels on a wave of market confidence in the government's near-term ability to maintain its foreign exchange policy. Ratings agencies have come under fire ever since they failed to anticipate Asia's financial crisis. Moody's rates Brazilian foreign currency debt at B1, while Standard & Poors rates Brazil BB-minus. Copyright 1998, Reuters News Service

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