Moody’s increased the outlook for Brazil's sovereign debt from stable to positive, Lula broke electoral rules by calling for his supporters to vote for Boulos in São Paulo, and the São Paulo City Council votes on the Sabesp privatization

BRAZIL POLITICS - Report 02 May 2024 by Murillo de Aragão and Cristiano Noronha

Yesterday, the rating agency Moody's raised the outlook for Brazil's medium and long-term sovereign debt from stable to positive. The company, however, maintained its long-term issuer and unsecured government bond ratings at Ba2. Yesterday, trade unions organized an event for Labor Day. Lula explicitly called for his supporters to vote for Boulos, which is prohibited by electoral legislation in the pre-campaign period. The Brazilian Communications Company (EBC) subsequently deleted the broadcast of the Labor Day event on YouTube. Today, the São Paulo City Council holds the second round of voting on the bill that authorizes the capital of São Paulo to privatize Sabesp.

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