S&P Cuts Vene

S&P Cuts Vene

Venezuela Bonds Corporate & Sovereign Strategy

S&P has lowered Venezuela’s credit rating to B minus from B, it says, due to a “radicalization” of economic policy. The results of recent municipal elections are likely to reinforce the recent trend toward government intervention, creating more uncertainty regarding the country’s economy. “We expect a continuation of erratic economic policies in Venezuela that, along with pressures on external liquidity and sustained political polarization, will exacerbate the government’s dependence on oil pric

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