Moody's warns against increasing vulnerability of Venezuela

Moody's, one of the major credit risk and risk analysis firms in the world, has kept "stable" the forecast of the Venezuelan debt, currently at "B2," a "speculative" step under the agency method.

However, the report released in New York and quoted by AFP warns against "the country's foreign increasing vulnerability, due to a clear drop of foreign currency reserves concomitantly with increasing foreign debt."

It also notes "the fast growth of spending and subsequent growth of debt in times of unprecedented high oil prices."