Venezuelan crisis deepens; rating agencies declare default
Russia agrees to restructure $3.15 billion to facilitate repayments to creditors
Credit rating agencies have declared the Venezuelan government and its national oil company in default, as the country edges closer to economic collapse.
Standard & Poor’s, Moody’s Investors Service and Fitch have all declared that Caracas failed on November 13 to pay international investors the interest due on $200 million in bonds within a grace period of 30 days. This may come to represent the beginning of one of the biggest sovereign defaults in history, as international investors hold $60
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