Brazilian President Dilma Rousseff said Monday Standard & Poor's downgrading of the U.S. credit rating was rash and incorrect.

"I want to make it clear that we don't share the hurried and somewhat incorrect evaluation, I would say, of Standard & Poor's, the agency which downgraded the U.S. bonds," she said.

At a meeting earlier in the day with Canadian Prime Minister Stephen Harper, Rousseff offered an assessment of her country's situation, stressing that Brazil is ready to overcome the crisis.

Rousseff attributed the current turmoil to political senselessness and unilateral monetary policies.

Brazilian Presidential Chief of Staff Gleisi Hoffmann Monday also commented on the crisis, saying she believed the country must prepare itself for a long fight.

Hoffmann said the government is taking steps to protect the Brazilian economy, including the recently announced industry plan, which aims at boosting the national industry and shielding it from international competition.

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