MEXICO CITY (Standard&Poor's) Jan. 3, 2012--Standard&Poor's Ratings Services said today that there would be no effect on its ratings or outlook on Petróleos de Venezuela S.A. (PDVSA; B+/Stable/--) as a result of the New York-based International Chamber of Commerce's (ICC) arbitration settlement. Although PDVSA is bound to a total payment of up to $907.6 million in compensation for nationalized assets in favor of ExxonMobil Corp. (AAA/Stable/A-1+), we believe that, based on PDVSA's cash position of about $9.02 billion as of June 30, 2011, the compensation amount will not affect the company's liquidity. We will continue monitoring the pending resolution of the similar claim of ConocoPhillips (A/Watch Neg/A-1).
