J.P. Morgan said that after Lula won the election, it adjusted the ratings of Brazilian real and domestic government bonds from “overrated” to “standard.” J.P. Morgan said that after Lula won the election, it downgraded its international bond rating from “equal to the market” to “reduced holdings.”

J.P. Morgan said that after Lula won the election, it adjusted the ratings of Brazilian real and domestic government bonds from “overrated” to “standard.” J.P. Morgan said that after Lula won the election, it downgraded its international bond rating from “equal to the market” to “reduced holdings.”