Fitch investigating Venezuela

Fitch Ratings said it is investigating reports of a possible missed payment on the Bolivarian Republic of Venezuela's oil-indexed payment obligations.

The oil obligations were issued by Venezuela in 1990 in connection with its Brady Plan restructuring to holders of its par and discount bonds due in 2020.

Fitch said concerns have arisen about whether a missed payment on the oil obligations constitutes a default on Venezuela's par and discount Brady bonds due in 2020.

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