S&P cuts Brazil deeper into junk territory in blow to Rousseff

By Alonso Soto BRASILIA (Reuters) - Standard & Poor's downgraded Brazil's credit rating deeper into junk territory on Wednesday, citing its failure to curb its fiscal deficit, in a surprise blow to President Dilma Rousseff`s bid to haul the economy out of its worst recession in decades. S&P cut Brazil's sovereign credit rating to BB from BB+ with a negative outlook, just five months after becoming the first agency to strip the country of its coveted investment grade. Fitch ratings follow