Brazil Property News: Brazil tipped to receive more investment




6th May 2008 05:03


People who are considering buying property in Brazil could be interested to hear that the Latin American nation has been tipped to receive even more investment after it was recently appointed investment grade by Standard & Poor.

The Brazilian Society of Transnational Corporations and Economic Globalisation (Sobeet) revealed the reclassification should provide further incentives to the entry of foreign investment, reports ANBA.

"In other countries the FDI flow rose not just before 'investment grade' but also after it," Luis Afonso Lima, the president of Sobeet, told the news agency.

Last week, the country was placed 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, according to the news provider.

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.

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