Fitch downgrades Venezuela to 'selective default'
Fitch Ratings has downgraded Venezuela's Long-Term Foreign Currency Issuer Default Rating (IDR) to 'RD
Washington - Arab Today
Fitch downgraded cash-strapped Venezuela to "restricted default" on Tuesday over its failure to make overdue payments on its sovereign bonds.
"Fitch Ratings has downgraded Venezuela's Long-Term Foreign Currency Issuer Default Rating (IDR) to 'RD' (Restricted Default) from 'C' and affirmed the Long-Term Local Currency IDR at 'CC'," the ratings agency said in a statement said.
Source:AFP
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