Brazil has weathered the global economic crisis well. Favorable growth prospects reflect sound policy and broad political commitment to macroeconomic stability. We are affirming our ratings, including the 'BBB-/A-3' foreign currency sovereign credit ratings, on Brazil. The outlook remains stable based on a combination of favorable economic growth prospects and the new challenges the authorities will face to continue to strengthen fundamentals. NEW YORK (Standard&Poor's) Dec. 8, 2009--Standard&Poor's Ratings Services today said it affirmed its 'BBB-' long-term and 'A-3' short-term foreign currency sovereign credit ratings on the Federative Republic of Brazil. The outlook remains stable. "Brazil's strong recovery will present policymakers with an opportunity to enhance the government's credit standing by consolidating its fiscal stance, keeping
