Beijing still funds struggling Venezuela, for now

Last week, Moody's Investor Services cut Venezuela's credit rating by two levels down to Caa3, but China is still "cautiously willing to support," said Risa Grais-Targow, senior analyst for Venezuela at Eurasia Group, a political risk research firm, as long as it does not end up as a "lender of last resorts." "China doesn't want to bail out Venezuela. If they did want to, they already would have," she said. China shares the same concerns as any other investor in Venezuela, Rodriguez said. More…