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Rio de Janeiro maintains investment grade
Posted on September 14, 2015
The risk assessment agency Standard & Poor’s has confirmed Rio de Janeiro’s investment grade, making it the only city in Brazil to maintain its status. This way, Rio remains as the only city with a grade surpassing its Union, maintaining itself in the category internationally considered as safe. In the evaluation, the agency pointed out as determining factors for the grade maintenance the solid financial management from City Hall and the moderate level of debt, as well as budget flexibility and large reserves.
This definition comes after the revision for the country’s assessment, which included companies and banks, before reaching capitals. According to theagency, São Paulo, Minas Gerais and Santa Catarina have followed Brazil’s tendency and have lost their investment grade.