S&P rates Mato Grosso BBB-

Standard & Poor's said it assigned a BBB- global scale issuer credit rating to the state of Mato Grosso.

The outlook is stable.

The state's creditworthiness reflects its moderate debt, which compares favorably with Brazilian peers, sound budgetary performance and its adequate liquidity, S&P said.

The rating also reflects the state economy's reliance on the agriculture sector and its relatively limited budgetary flexibility, which is expected to deteriorate amid Mato Grosso's infrastructure needs, the agency said.

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