DBRS Morningstar Upgrades Brazil to BB, Stable Trend

DBRS Inc. (DBRS Morningstar) upgraded the Federative Republic of Brazil’s Long-Term Foreign and Local Currency – Issuer Ratings to BB from BB (low). At the same time, DBRS Morningstar confirmed the Federative Republic of Brazil’s Short-term Foreign and Local Currency – Issuer Ratings at R-4. The trend on all ratings is Stable.