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Petroleos de Venezuela and Units Ratings Raised; Outlook Stable

Published Jul 31, 2003

571 words — Published Jul 31, 2003

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Abstract:

NEW YORK (Standard&Poor's) July 31, 2003--Standard&Poor's Ratings Services said today that it raised its corporate credit rating on Venezuelan state oil company Petroleos de Venezuela S.A. (PDVSA) to 'B-' from 'CCC+'. At the same time, Standard&Poor's raised its corporate credit rating on PDVSA's wholly owned affiliate PDV America Inc. to 'BB' from 'BB-'. The outlook is stable. "The rating upgrades reflect the upgrade of the foreign currency rating on the Bolivarian Republic of Venezuela to 'B-' from 'CCC+'. Future ratings changes on PDVSA and its affiliates will be linked to rating changes on Venezuela, in addition to changes in either entity's financial or operational profile," said Standard&Poor's credit analyst Bruce Schwartz. As

Brief Excerpt:

RESEARCH Petroleos de Venezuela and Units Ratings Raised; Outlook Stable Publication date: 31-Jul-2003 NEW YORK (Standard & Poor's) July 31, 2003--Standard & Poor's Ratings Services said today that it raised its corporate credit rating...

Report Type:

Ratings Action

Ticker

PDVSA@VC

Issuer

Petroleos de Venezuela S.A.

GICS

Oil & Gas Exploration & Production (10102020)

Sector

Global Issuers

Country

Venezuela

Region

Latin America

Format:

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Summary: Petroleos de Venezuela S.A. – 2004/06/29 – US$ 225.00

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Petroleos de Venezuela Rating Raised To 'B+' ; Outlook Stable – 2005/08/15 – US$ 150.00

Research Update: Petroleos de Venezuela S.A. Rating Raised To 'B+': Outlook Stable – 2005/08/15 – US$ 225.00

Research Update: Petroleos de Venezuela S.A. – 2003/07/31 – US$ 225.00

Petroleos de Venezuela S.A. Rating Affirmed; Outlook Revised to Stable – 2003/04/16 – US$ 150.00

Research Update: Petroleos de Venezuela S.A. – 2003/04/16 – US$ 225.00

Petroleos de Venezuela's Rating Cut to 'CCC+'; Outlook Negative – 2002/12/13 – US$ 150.00

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MLA:	S&P Global Ratings’ Credit Research. "Petroleos de Venezuela and Units Ratings Raised; Outlook Stable" Jul 31, 2003. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Petroleos-de-Venezuela-and-Units-Ratings-Raised-Outlook-Stable-326306>

APA:	S&P Global Ratings’ Credit Research. (). Petroleos de Venezuela and Units Ratings Raised; Outlook Stable Jul 31, 2003. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Petroleos-de-Venezuela-and-Units-Ratings-Raised-Outlook-Stable-326306>

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