Moody’s Negative on Venezuela

Moody’s Negative on Venezuela

Venezuela Corporate & Sovereign Strategy

Citing political uncertainty related to President Hugo Chavez’s medical condition, Moody’s has lowered the outlook on Venezuela’s B2 rating to negative from stable. Concerns revolve around Chavez’s potential successor and that person’s ability to effect necessary economic stabilization, especially in the face of possible civil unrest. “Notwithstanding the government's decision not to call new elections, as was arguably required by the constitution, a political transition appears to be imminent –

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