DBRS Assigns Short-Term Sovereign Ratings of R-2 (high) to Brazil, Stable Trend

DBRS, Inc. (DBRS) has today assigned R-2 (high) short-term issuer ratings with a Stable trend to the local and foreign currency debt of the Federative Republic of Brazil. The R-2 (high) Stable trend ratings are consistent with DBRS’s long-term issuer ratings on the local and foreign currency debt of BBB, Stable trend, as per DBRS’s rating scales.

Note:
The principal applicable methodology is Rating Sovereign Governments, which can be found on our website under Methodologies. The principal applicable rating policies are Commercial Paper and Short-Term Debt, and Short-Term and Long-Term Rating Relationships, which can be found on our website under Rating Scales.

The sources of information used for this rating include Ministério da Fazenda, Tesouro Nacional, Banco Central do Brasil, IBGE, Secex, BIS, IMF, World Bank. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

Lead Analyst: Fergus McCormick
Rating Committee Chair: Alan G. Reid
Initial Rating Date: July 6, 2006
Most Recent Rating Update: November 18, 2011

For additional information on this rating please refer to the linking document under Related Research.