S&P cuts Venezuela global bond

S&P said it lowered Venezuela's global bond due 2018 to D from CC and affirmed the long- and short-term foreign currency sovereign issuer credit ratings at SD/D.

The long- and short-term local currency sovereign credit ratings remain at CCC-/C and are still on CreditWatch with negative implications.

Other foreign currency senior unsecured debt issues not currently rated D are rated CC.

Venezuela failed to make $35 million in coupon payments for its global bonds due 2018 within the 30-calendar-day grace period, the agency explained.

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