Brazil's economy has recovered faster than expected, but its growth prospects are moderate. Spending pressures and a high interest burden will likely result in slow fiscal consolidation, with net general government debt trending toward 75% of GDP by 2024. We affirmed our 'BB-/B' sovereign credit ratings on Brazil. Our stable outlook assumes that the government will gradually stabilize the recent growth in its debt burden despite moderate economic growth in the next couple of years. On Nov. 30, 2021, S&P Global Ratings affirmed its 'BB-/B' long- and short-term foreign and local currency sovereign credit ratings on Brazil. The outlook on the long-term ratings remains stable. We also affirmed our 'brAAA' national scale rating, and the outlook remains stable. The transfer
