Moody's confirms Venezuela

Moody's Investors Service said it confirmed the foreign-currency bond rating of the government of Venezuela at B2 and removed the rating from review for upgrade as a result of the worsening international crisis and the dramatic drop in oil prices since September.

The outlook is stable.

"Despite low and improved debt metrics and an increased willingness by Venezuela's political actors to use the ballot box as a means to solve their differences, the heightened uncertainties surrounding the worsening international crisis and the accompanying dramatic drop in oil prices do not support an upgrade of the country's foreign-currency ratings," Moody's vice president Gabriel Torres said in a statement.

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