Fitch ups Venezuela

Fitch Ratings said it upgraded the long-term foreign currency and long-term local currency ratings of the Bolivarian Republic of Venezuela to BB- from B+.

At the same time, Fitch said it upgraded the country ceiling to BB-. The short-term foreign currency rating is affirmed at B and the outlook is stable.

"The upgrade reflects significant improvements in external debt and liquidity ratios because of windfall oil export receipts, leaving them significantly better than peer BB levels," said Morgan Harting, senior director and lead sovereign Fitch analyst for Venezuela.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.