Venezuela: scogli all'orrizzonte

[Amati75]

Problemi in vista per il Venezuela... come se non ne avesse..:

Venezuela’s bonds slumped after Standard & Poor’s (XOP) lowered its credit rating yesterday, citing the country’s economic slowdown and soaring inflation.
The nation’s government dollar bonds due 2027 slid 2.1 cents to 71 cents on the dollar, the lowest in a week, as of 87 a.m. in New York. The extra yield investors demand to own Venezuelan bonds over U.S. Treasuries widened 0.48 percentage point to 13.29 percent, the biggest increase in emerging markets, according to JPMorgan Chase & Co.
S&P cut Venezuela’s long-term rating by one level to CCC+, seven levels below investment grade, from B-. The outlook is negative, S&P said yesterday in a statement. Venezuela’s dwindling supply of dollars has fueled shortages of everything from basic medicine to toilet paper. S&P forecastsVenezuela’s economy will contract by as much as 3.5 percent this year after expanding 1 percent in 2013.
“The downgrade is based on continued economic deterioration, including rising inflation and falling external liquidity, and the declining likelihood that the government will implement timely corrective steps to staunch it,” S&P analyst Sebastian Briozzo said in the statement. “The government could come under greater strain to service its rising level of external debt.”

Venezuelan Bonds Slide After S&P Lowered Credit Rating - Bloomberg



Venezuela Policy Continuity Will Lead to Default, Nomura Says

By Katia Porzecanski Sep 16, 2014 7:24 PM ET - Comments Email Print

“Policy continuity will take us to a default” in Venezuela, Javier Kulesz, an analyst at Nomura Holdings Inc., said at an Emta conference in New York. * In the short term, investors should be “long” because Venezuela will make bond payments next month. * “These guys are operating on fumes,” Marco Santamaria, a money manager at AllianceBernstein LP, said at the conference. “They need the hard cold cash sitting in the central bank,” he said. “The situation’s quite grim.”
To contact the reporter on this story: Katia Porzecanski in New York atkporzecansk1@bloomberg.net

Venezuela Policy Continuity Will Lead to Default, Nomura Says - Bloomberg

[Guy Fawkes]

Insomma: all'Ovest niente di nuovo.

[muskan]

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