Moody's changes forecast on Venezuela's Pdvsa bonds
State-run oil company Pdvsa's debt bonds were downgraded to negative amidst uncertainty over a political succession of Venezuelan President Hugo Chávez
However, Moody's has reaffirmed both Venezuela's B1-B2 oil industry bond ratings in local currency and foreign currency, respectively.
"Actions concerning the rating of Venezuela's bonds express the growing uncertainty amid the political succession of President (Hugo) Chávez, and the impact of a looming transition in civil order, the economy, and a visibly deteriorated fiscal position," Moody's explained in a statement cited by Reuters.
At least 30 years had passed since his last visit to Caracas. He had little time to become an expert on moving about in such a complicated metropolis. Whether it was hopping on the subway, finding directions, playing waiting games at public agencies, eating whatever he could and sleeping wherever he could, Guerrero senior had been wandering the streets for 60 days, and thanks to "the boys" he found some sort of relief by way of helping hands.