S&P: Petroleos, others unaffected

Standard & Poor's said that news regarding Exxon Mobil Corp.'s (AAA/stable/A-1+) moves to freeze $12 billion in Petroleos de Venezuela SA's (BB-/stable) overseas assets has no immediate impact on the rating and outlook on the Bolivarian Republic Venezuela (BB-/stable/B) and its national oil company and related entities, including Citgo Petroleum Corp. (BB/stable), Petrozuata Finance Inc. and C.A. La Electricidad De Caracas (BB-/stable).

S&P said it does not believe recent court orders will have a meaningful impact on the issuer's day-to-day operations, given that it appears that the court order only prevents the company from disposing of its assets.

Ratings reflect the issuer's position as a public policy-based institution that plays a central role in meeting the sovereign's political and economic objectives, the agency said.

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