Brazil's Levy says S&P outlook review is wake-up call -source
BRASILIA, July 28 (Reuters) - Finance Minister Joaquim Levy told his aides that Standard & Poor's threat to strip Brazil of its investment-grade rating could serve as a wake-up call for Congress to speed up the approval of austerity measures, a government source who heard Levy's remarks told Reuters.
S&P earlier on Tuesday revised its outlook on Brazil's credit at BBB-minus rating to negative from stable, signaling a downgrade is possible over 12 to 18 months.
"Levy said this is a wake up call that could increase the sense of urgency to approve measures that are in Congress," said the official, who asked not to be named because the government had not yet made an official comment on the revision. (Reporting by Alonso Soto; Editing by Christian Plumb)
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