Venezuela Cut Deeper Into Junk by S&P as Default Risk Surges

The world’s riskiest credit got another jolt after S&P Global Ratings lowered Venezuela’s rating deeper into junk as the economy spirals down amid heightened political tension.

S&P reduced the nation’s long-term foreign and local currency ratings to CCC-, or three notches below investment grade, from CCC on Tuesday. The New York-based company kept its negative outlook for Venezuela, signaling room for further downgrades. Fitch Ratings and Moody’s Investors Service also rank the country at speculative levels. 

“Recent developments have raised the risk of default, including through a debt exchange that we would view as a distressed exchange, within the next six months, absent unanticipated significant improvement in Venezuela’s economic and political conditions,” S&P analysts led by Manuel Orozco wrote in a statement on Tuesday.

Speculation on a Venezuelan default is mounting as international reserves tumble amid anti-government protests and President Nicolas Maduro’s push to rewrite the constitution. The implied probability of



Leave a Reply

Recent Posts

Trump Supporters: Get Your 2020 'Keep America Great' Shirts Now!

Are you a proud supporter of President Donald Trump?

If so, you’ll want to grab your 2020 re-election shirt now and be the first on your block to show your support for Trump 2020!

These shirts are going fast so click here to check for availability in your area!


More Popular Stuff for Trump Supporters!

MUST SEE: Full Color Trump Presidential Coin (limited!)

Hilarious Pro Trump 'You are Fake News' Tee Shirt!

[Exclusive] Get Your HUGE Trump 2020 Yard or House Flag!