Help us to disseminate news On Venezuela

Rafael Ramirez, former president of PDVSA, under investigation for corruption

Wednesday, March 1, 2017

Venezuela: Pdvsa Default Risk Real, Outlook Negative, S&P Says


S&P Global warned late Tuesday that Venezuela’s default risk is real in 2017, but it affirmed its non-investment grade CCC foreign and local-currency sovereign credit rating with a negative outlook. CCC is considered a speculative category of debt, while CCC minus would indicate imminent default. Venezuela bonds produced handsome returns last year as default was averted, and the government shrugged off criticism for a late payment in November. The latest data show Venezuela  has roughly $10.5 billion left in reserves — mostly gold and some cash – which is enough for  muddle-through year of debt payments, Nomura’s Latin America credit strategist has said. More…

No comments:

Post a Comment