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Credit rating agency Moodie Investors Service Inc raised Brazil's sovereign rating outlook from a negative to a stable Monday, suggesting that it believes that the winner of this year's general election in Brazil will push unpopular government spending cuts. Moodie analysts said in a statement that economic growth is faster than expected, and may also provide support for tight fiscal support. Brazil's government's debt reduction measures failed to reduce government debt to the same level as the same countries. "Moodie expects the future Brazil government to continue to approve further necessary reforms, especially in terms of social security, which is in accordance with the constitutional expenditure ceiling," the statement said. Moodie maintained the rating of Brazil Ba2, which is two times lower than the investment grade. The agency said that if fiscal reforms were faster than expected, Moodie could raise the Brazil rating, but the rating could be downgraded if "the political system is not working again" or "the reform is stagnant".