S&P Global Ratings downgrades Local Currency LT credit rating of Venezuela to "CCC-"; outlook negative

July 13, 2017 - CBonds

 

S&P Global Ratings downgraded from "CCC" to "CCC-" the Local Currency LT credit rating of Venezuela on July 11, 2017. The outlook is negative.
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Issuer: Venezuela
Issuer profile:
Issuance of Venezuelan global bonds reached USD 7.4bn in 2010. The government of Venezuela sold USD3.0bn worth of global bonds in international debt capital markets in 2010. PDVSA raised USD4.1bn in ... more
Outstanding issues:
23 issuesUSD39,175,423,000
66 issuesVEF490,480,995,141
Issuer rating:
Dagong CreditCCC/NegativeInternational scale rating (foreign curr.)05/08/2017
Dagong CreditCCC/NegativeInternational scale rating (local curr.)05/08/2017
Organisation for Economic Co-operation and Development (OECD)7/Country Risk Classifications06/24/2016
Moody's Investors ServiceCaa3/NegativeLT- foreign currency03/04/2016
Moody's Investors ServiceCaa3/NegativeLT- local currency03/04/2016
S&P Global RatingsCCC-/NegativeForeign Currency LT07/11/2017
S&P Global RatingsCCC-/NegativeLocal Currency LT07/11/2017
Fitch RatingsCC/LT Int. Scale (foreign curr.)08/30/2017
Fitch RatingsCC/LT Int. Scale (local curr.)08/30/2017
Rating Agency RAEX (Expert RA)Withdrawn/Foreign curr. scale02/05/2016
Rating Agency RAEX (Expert RA)Withdrawn/Local curr. scale02/05/2016
National Rating AgencyiC/StableGlobal scale09/30/2016
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