Moody's: Venezuela's restructuring among largest and most complicated

Following Venezuela's (Caa3 negative) missed interest payments in November which constituted default events, the eventual restructuring could be one of the largest and most complicated sovereign defaults seen by Moody's Investors Service, the rating agency says in a new report. Moody's expects that the combined restructuring, which would follow missed bond interest payments from national oil company PDVSA and the government, will likely exceed $65.2 billion. That amount would be the fourth-largest default recorded by Moody's, behind Greece in 2012, Argentina in 2001, and Russia in 1998. More…