Brazil Property News: Brazil is 'good for investment'




1st May 2008 06:00


People who are considering buying property in Brazil could be interested to hear that the Latin American nation has been appointed "investment grade" by an international rating agency.

Standard & Poor has placed the country in a group that presents low risk to investors, a move that resulted in the Sao Paulo Stock Exchange Index soaring by 6.33 per cent to a record level, reports ANBA.

The agency upgraded Brazil from a BB+ to BBB- adding that the nation has a "stable" long-term perspective rating which means the grade is likely to remain for a long time.

Brazil is one of only 14 countries to have its 'sovereign' long-term credit rating increased to investment grade.

The organisation said that this reflects the country's maturity, its economic policy and the fact its foreign debt has "declined dramatically", as the nation rose to become a net foreign creditor.

Meanwhile, the head of Latin American research for Riedel Research Group, Ignacio Goni, revealed last month that Brazil is a very attractive place to be for investors in most sectors.

"I see that companies in Brazil are more attractively valued now than they were last year," he added.

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