Oh that sinking feeling


Most developing nations are confronting the same issues that saw Brazil losing its investment-grade rating at Standard & Poor’s — a plunge in commodity prices, a slumping currency and political turmoil. Sputtering growth in China and the prospect of higher U.S. interest rates are also boosting concern of more downgrades across emerging markets. Having been censured for laxity during previous market meltdowns, the ratings providers won’t want to be caught failing to act this time round.



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