MEXICO CITY (Standard&Poor's) Dec. 10, 2008--Standard&Poor's Ratings Services said today that it revised its outlook on Petroleos de Venezuela S.A. (PDVSA) to negative from stable. At the same time, we affirmed our 'BB-' long-term corporate credit rating on the company. "The outlook revision follows the outlook change on the Bolivarian Republic of Venezuela to negative from stable," said Standard&Poor's credit analyst Enrique Gomez Tagle, CFA. The ratings on PDVSA and Venezuela, its sole shareholder, are tightly linked, reflecting our opinion that PDVSA is a public policy-based institution that plays a central role in meeting the sovereign's political and economic objectives. The ties of ownership and economic interests between PDVSA and Venezuela are evident in
