S&P declares Venezuela in 'selective default'

  • Tuesday 14, November 2017 in 10:07 AM
Sharjah24 – AFP: Standard & Poors declared Venezuela in "selective default" Monday, after it failed to make $200 million in payments on its global bonds, becoming the first ratings agency to do so.
The agency said it acted after a 30-day grace period had passed on payments on two bonds.

"We have lowered two issue ratings to 'D' (default), and we lowered the long-term foreign currency sovereign credit rating to 'SD' (selective default)," the agency said.