PVSA's position as one of the world's leading integrated national oil companies supports the rating. We are affirming our ratings, including the 'B+' The outlook remains stable. We expect PDVSA's liquidity and relationship with the Venezuelan government to remain the same over the next two to three years. MEXICO CITY (Standard&Poor's) Oct. 1, 2010--Standard&Poor's Ratings Services said today that it affirmed its 'B+' ratings on Venezuelan state-owned oil company Petróleos de Venezuela S.A. (PDVSA). The outlook remained stable. The 'B+' corporate credit rating on PDVSA, which is one notch lower than the sovereign rating on its owner, the Bolivarian Republic of Venezuela (BB-/Stable/B), reflects our opinion that there is an extremely high likelihood that the government
