The CCC risk rating is impacted by the Sovereign Probability of Default (ability and willingness to honour financial obligations), political risks, and other mitigating or worsening factors.
Business environment in Brazil
Brazil, the largest economy in South America, has faced deterioration in its macroeconomic, investment and political environment, with high inflation, a depreciating currency and economic contraction. Despite this, Brazil features a diversified economy and export base, along with a strongly regulated banking system. Brazil offers many opportunities for Canadian companies in a number of sectors, however, expensive tax regimes, heavy bureaucracy and political uncertainty continues to present challenges for Canadian exporters.
EDC serves Canadian companies in Brazil through our local representation in Rio de Janeiro and São Paulo.