Brasilia, Dhu-AlQa'dah 26, 1436, Sep 10, 2015, SPA -- The Brazilian government plans to cut back spending even further, Finance Minister Joaquim Levy said Thursday, hours after the rating agency Standard & Poor's downgraded the country's bonds to junk, dpa reported. S&P downgraded Brazil's debt from BBB- TO BB+ late Wednesday, meaning the world's seventh-largest economy lost its investment-grade rating. The agency also said its outlook was poor and additional downgrades might follow. S&P argued that the Brazilian government's failure to get Congress to pass an austerity budget had a major influence in the decision. -- SPA 22:38 LOCAL TIME 19:38 GMT www.spa.gov.sa/w