Fitch on Brazil: 2-notch rating downgrade not usual
SAO PAULO, Sept 28 (Reuters) - A Fitch Ratings director on Monday practically ruled out the possibility of Brazil losing its investment grade during its next rating revision by saying the ratings agency "does not usually" give two-notch downgrades, barring exceptional cases.
Rafael Guedes, Fitch's managing director for Brazil, noted however, that in 2002 the agency downgraded Brazil twice in the same year.
Fitch currently rates Brazil at BBB, two notches above junk, with a negative outlook.
(Reporting by Walter Brandimarte)
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