The S&P rating agency has revised down the Brazilian debt rating, bringing it to BB- (just one level above Argentina, which still pays the consequence of the 2001 default).

The decision was taken following the deterioration of the Brazilian public deficit and the difficulty of the Temer government in approving pension reform.

However, the market reacted well to the news, with the real appreciating on the dollar and stable on the euro; the stock market has even scored its all-time high, closing today at 79831 points after having exceeded 80 thousand points during the negotiations.