Telebras (TBH) & Brazil Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 1.070

+8.1%

Nov 5 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: md1derful who wrote (7436)	9/3/1998 5:46:00 PM
From: Steve Fancy	Read Replies (2) of 22640

Brazil declines comment on Moody's rating cut Reuters, Thursday, September 03, 1998 at 16:16 BRASILIA, Sept 3 (Reuters) - Brazil will not comment on a decision by Moody's Investors Service Inc to downgrade the country's speculative credit rating, a spokesman for the Finance Ministry said. "It is not our custom to comment on these things," the spokesman told Reuters. Moody's announced earlier it was downgrading its ceiling for Brazilian foreign currency bonds and notes to B2 from B1 and the ceiling for foreign currency bank deposits to Caa1. The spokesman said ratings agencies were frequently wrong, as they had been before the Asian economic crisis when countries like Thailand had better credit ratings than Brazil. "They were completely wrong, and today nobody in their right mind thinks Southeast Asia is a better place for foreign direct investment than Brazil," he said. "They don't have the slightest credibility among Brazilian economists today." Copyright 1998, Reuters News Service

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next