Fitch rates Venezuela bonds expected B+

Fitch Ratings said it assigned an expected B+ rating to the Venezuela government bonds maturing April 21, 2025. The outlook is stable.

The issue is being marketed in Venezuela to be purchased in local currency at the official exchange rate but under New York law, with all coupon and principal payments in U.S. dollars.

Fitch said Venezuela's sovereign ratings are supported by superior international liquidity relative to similarly rated sovereigns.

The ratings are constrained by volatility in government revenues because of heavy reliance on oil, concerns about willingness to service debt and about financial transparency, Fitch said.

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