ESPACIO PUBLICITARIO
CARACAS, Wednesday January 09, 2013 | Update
 
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FINANCE

Moody's sees credit risk in Venezuela amidst uncertainty over Chávez

"Regardless of who succeeds (Hugo) Chávez and what side of the political spectrum he represents, if materialized, this potential opportunity is offset in the short-term by the risks associated with the political transition that could adversely affect the rating of Venezuela," said the firm

EL UNIVERSAL
Wednesday January 09, 2013  03:55 PM
The sovereign debt rating of Venezuela, already in junk status, is facing the risk of being revised in the near term vis-à-vis a political transition given the inability of President Hugo Chávez to attend his inauguration on January 10, warned Moody's Investors Service Wednesday.

"Regardless of who succeeds (Hugo) Chávez and what side of the political spectrum he represents, if materialized, this potential opportunity is offset in the short-term by the risks associated with the political transition that could adversely affect the rating of Venezuela," said the firm in a statement.

Moody's rating of Venezuela's debt is B2 with a stable outlook, backed by the country's oil wealth. Standard & Poor's and Fitch Ratings have rated Venezuelan debt as B+. S & P forecast a stable outlook, while Fitch reported a negative outlook.
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This is all there is

A simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.

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