14.10.2015 19:56:00
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Moody's: Rio Grande Do Sul's deepening liquidity crisis compromising Brazilian federal financial oversight
Sao Paulo, October 14, 2015 -- Brazilian state, Rio Grande Do Sul's (RGS unrated) liquidity crisis is subverting the financial supervision of regional and local governments (RLGs) by federal authorities, Moody's Investors Service says. The federal government monitors RLG's financial performance and is its main creditor, accounting for roughly 80% of its combined debt.