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Brazilian debt downgraded by Fitch

RIO DE JANEIRO, Oct. 21 (UPI) -- Brazil's sovereign long-term debt was downgraded one level Monday by Fitch Ratings, which cited the country's presidential election this Sunday as a main concern. Brazil's economy has been hammered this year on worries that the leftist presidential candidate Luiz Inacio Lula da Silva will increase government spending and send the country into default.

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