ESPACIO PUBLICITARIO
CARACAS, Wednesday January 09, 2013 | Update
 
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FINANCE

Moody's sees credit risk in Venezuela amidst uncertainty over Chávez

"Regardless of who succeeds (Hugo) Chávez and what side of the political spectrum he represents, if materialized, this potential opportunity is offset in the short-term by the risks associated with the political transition that could adversely affect the rating of Venezuela," said the firm

EL UNIVERSAL
Wednesday January 09, 2013  03:55 PM
The sovereign debt rating of Venezuela, already in junk status, is facing the risk of being revised in the near term vis-à-vis a political transition given the inability of President Hugo Chávez to attend his inauguration on January 10, warned Moody's Investors Service Wednesday.

"Regardless of who succeeds (Hugo) Chávez and what side of the political spectrum he represents, if materialized, this potential opportunity is offset in the short-term by the risks associated with the political transition that could adversely affect the rating of Venezuela," said the firm in a statement.

Moody's rating of Venezuela's debt is B2 with a stable outlook, backed by the country's oil wealth. Standard & Poor's and Fitch Ratings have rated Venezuelan debt as B+. S & P forecast a stable outlook, while Fitch reported a negative outlook.
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The rock of discord

A shipment of over 30,000 tons of phosphate arrived at Puerto Cabello port in late July on board the Shi Long Ling, a Chinese-flagged vessel that began its long journey in northern Africa. The cargo boat docked on July 26 after traveling more than 3,200 nautical miles. Undoubtedly, this would just be considered one in many cargo ships crisscrossing the oceans if it were not for the fact that Venezuela has denounced Western Sahara occupation by Morocco and yet purchases the territory's natural resource products from the occupying power.

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