BRASIL: Moody's Lifts Credit Rating...To Baa2...Equaling India's.

M.PRESS

Moody's has pronounced Brasil's debt as sound as India's...and raised Brasil's credit rating one notch... to Baa2...an investment grade level.

The central bank has raised interest rates 5 times so far this year...currently at 12.25%...to curb credit growth.

The economy grew by 7.5% last year.

Brasil's banks project double digit increases in credit growth this year...despite average interest rates of 39%.

EUROZONE / GREECE: Is Restructuring "Off The Table" With New Rescue Package? Debt Rollover...May Be Rewarded; Moody's Downgrades Greece Again To...7th Level Of Junk Hell.

NYTIMES/ L. Thomas
2 screen read combined

    “Restructuring is off the table,”claims a Greek official. “For now it is all about growth, growth, growth.”
    The alleged end of "reprofiling" is based on reports of a new 60 bn euro/$86 bn usd rescue package...with new loans...for faster privatization and tougher tax collections.
     Greek officials have been especially disturbed by draining of some 60 bn euros in deposits from Greek banks...almost a quarter of its GDP...since the crisis began.

ALSO:  BLOOMBERG reports the ECB is considering encouraging bondholders to roll over their Greek debt...by offering preferred status, higher coupon payments or even collateral.
http://www.bloomberg.com/news/2011-06-01/greece-s-second-rescue-is-readied-by-eu-urging-investors-to-buy-more-debt.html

 AND:  Moody's has downgraded Greece again...this time to the speculative Caa1 level...seven notches into junk territory...with a NEGATIVE outlook.
  Only Ecuador...which has defaulted TWICE...is a worse sovereign risk. 

COLOMBIA: Moody's Raises Credit Rating...To Investment Grade.

M.PRESS/

   Following Standard and Poor’s by two months, Moody's has raised Colombia's credit rating to the important investment grade level...Baaa3...the same as Brasil, Peru and Panama...with an outlook of "stable."
   Moody's stated : “Security concerns, historically a major issue for Colombia, have not disappeared, but have been waning after several major government wins against domestic guerrilla groups."
   Colombia has reduced the homicide rate by almost half since 2002.

HUNGARY: Moody's And S&P May Downgrade Credit Rating To "Junk" After PM Rejects IMF.

REUTERS/      Moody's may downgrade Hungary's Baa1 credit rating because of increased uncertainty over its fiscal outlook and economic prospects while S&P has revised its outlook to negative from stable, while affirming its BBB-/A-3 rating, which is already lower than Moody's. PM Viktor Orban just announced that his new government no longer needs help from the IMF and that he won't seek to extend an emergency financing agreement of nearly $20 billion euros it signed in 2008.
(Web foto of V.Orban)

Moody's Cuts Lithuania's Debt Rating To Baa1.

BLOOMBERG/
Lithuania, suffering the European Union’s deepest recession, had its foreign and local-currency debt ratings cut by Moody’s, which cited “severe pressure” on the budget.
"The ratings were lowered one level to Baa1, the THIRD-LOWEST investment grade. They have a negative outlook, meaning the grades, the same level as Hungary’s, Russia’s or Thailand’s, are more likely to be lowered than raised or kept unchanged."