ESPACIO PUBLICITARIO
CARACAS, Tuesday December 17, 2013 | Update
 
|
share
|

Moody's sees growing risk of economic collapse in Venezuela

The firm cut Venezuela's sovereign credit rating in local and foreign currency to Caa1 from B1 and B2, respectively

EL UNIVERSAL
Tuesday December 17, 2013  11:56 AM
Moody's Investors Service downgraded Venezuela's sovereign credit rating and warned it could cut it again in view of looming risk of economic and financial collapse in the country.

This is the second credit rating downgrade for Venezuela in just a few days. Standard & Poor's had already cut Venezuela's bond ratings amid "radicalization" of the country's economic policies and dwindling international reserves.

Moody's said it cut Venezuela's sovereign credit rating in local and foreign currency to Caa1 from B1 and B2, respectively, while the outlook continues to be negative, Reuters said.

"The downgrade reflects Moody's view that Venezuela is facing increasingly unsustainable macroeconomic imbalances, including skyrocketing inflation and sharp depreciation of the parallel exchange rate," the agency said in a communiqué.

"As government policies have exacerbated these problems, the risk of an economic and financial collapse has greatly increased."
|
share
|
ADVERTISING SPACE
 Ranking
  •  Read 
 
 
Cerrar
Abrir