Home Credit Ratings and Research S&P Global Ratings’ Credit Research Petroleos de Venezuela S.A.

Petroleos de Venezuela S.A. Rating Lowered To 'B+' From 'BB-'; Outlook Negative

Published Jun 12, 2009

1109 words — Published Jun 12, 2009

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Abstract:

-- PDVSA's liquidity tightened due to the decline in oil prices at the end of 2008 and continued tax payments to the government. -- In our opinion, there is heightened uncertainty regarding the company's willingness to meet its contractual obligations with some of its suppliers. -- We are lowering our rating on PDVSA to 'B+' from 'BB-'. -- The negative outlook reflects what we believe to be heightened uncertainty regarding PDVSA's liquidity and its willingness to meet its obligations with suppliers, as well as the negative outlook on Venezuela. MEXICO CITY (Standard&Poor's) June 12, 2009--Standard&Poor's Ratings Services lowered its long-term corporate credit rating on Petroleos de Venezuela S.A. (PDVSA) to 'B+' from 'BB-'. The outlook remains

Brief Excerpt:

RESEARCH Petroleos de Venezuela S.A. Rating Lowered To 'B+' From '##-'; Outlook Negative Publication date: 12-Jun-2009 Primary Credit Analyst: Enrique Gomez Tagle, CFA, Mexico City (52) 55-5081-4407; enrique_gomeztagle@standardandpoors.com...

Report Type:

Ratings Action

Ticker

PDVSA@VC

Issuer

Petroleos de Venezuela S.A.

GICS

Integrated Oil & Gas (10102010)

Sector

Global Issuers

Country

Venezuela

Region

Latin America

Format:

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MLA:	S&P Global Ratings’ Credit Research. "Petroleos de Venezuela S.A. Rating Lowered To 'B+' From 'BB-'; Outlook Negative" Jun 12, 2009. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Petroleos-de-Venezuela-S-A-Rating-Lowered-To-B-From-BB-Outlook-Negative-727576>

APA:	S&P Global Ratings’ Credit Research. (). Petroleos de Venezuela S.A. Rating Lowered To 'B+' From 'BB-'; Outlook Negative Jun 12, 2009. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Petroleos-de-Venezuela-S-A-Rating-Lowered-To-B-From-BB-Outlook-Negative-727576>

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