ESPACIO PUBLICITARIO
CARACAS, Thursday January 17, 2013 | Update
 
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FINANCE

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

EL UNIVERSAL
Thursday January 17, 2013  12:03 PM
Moody's Investors Services has downgraded from stable to negative the rating of the debt of Venezuelan state-run oil company Pdvsa. The move came one day after the firm did the same with the bonds issued by the Venezuelan Government.

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.
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