Current rating is BBB-
- Sees 2% contraction in Brazilian GDP this year
- 'Number of investigations of corruption among certain circumstances despite significant policy correction during Dilma Rousseff's second term
- Expect govt deficit to rise to 7.5% of GDP from 6.1% in 2014
- FDI not expected to cover 4% current account deficit in 2015-17
- Outlook is negative because execution risks to policy changes have risen
The sluggish trend in emerging markets continues.
USD/BRL at the highest in more than a decade, up 2% today.
