Posted AT 4:57 PM EDT on 30/04/08
Brazil debt rating raised to investment grade
SAO PAULO — Standard & Poor's Ratings Services on Wednesday raised Brazil's debt rating to investment grade, a key benchmark in the country's economic transformation that sent domestic stocks soaring.
The long-awaited upgrade came two months after Brazil's Central Bank declared that the country's debt crisis was over because Latin America's largest country had emerged as a net foreign creditor for the first time.
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