S&P affirms Venezuela

Standard & Poor's said it affirmed its BB-/B sovereign credit rating on the Bolivarian Republic of Venezuela.

The outlook remains stable.

According to S&P, the ratings on Venezuela are supported by robust current account surplus that supports a strong external liquidity position and a relatively low and declining debt and interest burden.

The ratings are constrained by weak institutions and a continued deterioration of the system of checks and balances as well as erratic economic policy and poor economic management, the agency added.

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