Moody's changes forecast on Venezuela's Pdvsa bonds
State-run oil company Pdvsa's debt bonds were downgraded to negative amidst uncertainty over a political succession of Venezuelan President Hugo Chávez
However, Moody's has reaffirmed both Venezuela's B1-B2 oil industry bond ratings in local currency and foreign currency, respectively.
"Actions concerning the rating of Venezuela's bonds express the growing uncertainty amid the political succession of President (Hugo) Chávez, and the impact of a looming transition in civil order, the economy, and a visibly deteriorated fiscal position," Moody's explained in a statement cited by Reuters.
Three Venezuelans and five Trinidadians will stand trial on January 26 under the suspicion of being involved in alleged Muslim terrorist activities in Venezuela. After nine months in prison, the defendants will appear in court to face charges of terrorism brought against them by the Attorney General Office.