Brazil Imposes 6% Tax on International Bonds Maturing in Up to One Year

Brazilian President Dilma Rousseff raised taxes on corporate loans and debt sales abroad by banks in a bid to contain a 39 percent gain since the end of 2008. The real erased this year’s losses and yields on interest-rate futures rose.
Brazil imposed a tax of 6 percent on international bond sales and loans with an average minimum maturity of up to 360 days, according to a decree published today in the Official Gazette. Companies had paid a 5.38 percent tax on loans up to 90 days and zero tax when the operation exceeded three months.

Brazil Progress On Budget Cuts Central To Rating--Moody's

CALGARY (Dow Jones)--Progress by Brazil's government on proposed spending cuts will be fundamental to determining changes in the country's credit rating outlook, Moody's Investor Services said Saturday.

Brazil federal debt up in February on net issue

* Federal public debt up 2.8 pct in February
* Net debt issuance totals 27.25 billion reais in February

Brazil Feb Tax Revenue Hits BRL64.14B, Up 9.84% Vs '10

BRASILIA (Dow Jones)--Brazil's tax collection continued to rise at a strong pace in February on still-robust economic activity early in the year, the country's federal tax department reported Tuesday.

The government reported revenue rose 9.84% in real terms from February 2010, to 64.14 billion Brazilian reals ($38.63 billion).

Brazil, Colombia may be upgraded by summer-Moody's

NEW YORK, March 3 (Reuters) - Moody's will decide whether to raise Brazil and Colombia's credit ratings before summer, while Peru is on a "steady path" for more upgrades in the next few years, analyst Patrick Esteruelas said on Thursday.
Brazil and Colombia both have a positive rating outlook from Moody's, and an upgrade would put Colombia in the coveted group of countries with an investment grade status.
Brazil's upgrade from its Baa3 rating will depend on the new government's ability to reverse a "spending binge" by former President Luiz Inacio Lula da Silva in 2010, Esteruelas said.

Brazil’s Central Bank Says Increase to 11.75% Part of ‘Adjustment Process’

Brazil’s central bank signaled it will raise the benchmark interest rate for a third straight meeting next month, after pushing borrowing costs yesterday to a two-year high to cool inflation.

Policy makers raised the overnight rate to 11.75 percent from 11.25 percent in a unanimous vote, saying the decision was the “continuation of the adjustment process.”