Brazil, Chile Likely to See Upgrades

Brazil and Chile could see their Moody’s ratings upgraded by the end or 2009, according to Credit Suisse, while Venezuela could be in line for a downgrade. The shop analyzes macro forecasts for 27 EM countries, using Moody’s and its own data. When using its own numbers, the model finds that Brazil’s Ba1 and Chile’s A2 would be raised a notch, while Venezuela’s B2 could be lowered a notch. When using Moody’s data, it finds the only change is the Brazil upgrade. Moody’s is the only one of the three major ratings agencies not to rate Brazil high-grade, keeping it one notch lower.