Research Update: Petroleos de Venezuela Ratings On 2024 And 2021 Senior Unsecured Notes Cut To 'D' From 'CC' On Missed Interest Payment - S&P Global Ratings’ Credit Research

Research Update: Petroleos de Venezuela Ratings On 2024 And 2021 Senior Unsecured Notes Cut To 'D' From 'CC' On Missed Interest Payment

Research Update: Petroleos de Venezuela Ratings On 2024 And 2021 Senior Unsecured Notes Cut To 'D' From 'CC' On Missed Interest Payment - S&P Global Ratings’ Credit Research
Research Update: Petroleos de Venezuela Ratings On 2024 And 2021 Senior Unsecured Notes Cut To 'D' From 'CC' On Missed Interest Payment
Published Dec 19, 2017
5 pages (1526 words) — Published Dec 19, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Venezuela-based oil and gas company PDVSA failed to make its interest payment on its 2024 and 2021 senior unsecured notes within the 30-calendar-day grace period, which expired on Dec. 16, 2017, and Dec. 17, 2017, respectively. In line with our criteria for timeliness of payments, we're lowering the issue ratings on these notes to 'D' from 'CC'. On Dec. 19, 2017, S&P Global Ratings lowered its issue-level ratings on Petroleos de Venezuela S.A.'s (PDVSA's) senior unsecured notes due 2024 and 2021 to 'D' from 'CC'. PDVSA hasn't been able to meet the coupon payment on its 2024 and 2021 notes within the 30-calendar-day grace period (or the bondholders hadn't received the funds by that date), constituting an event of default

  
Brief Excerpt:

...Venezuela-based oil and gas company PDVSA failed to make its interest payment on its 2024 and 2021 senior unsecured notes within the 30-calendar-day grace period, which expired on Dec. 16, 2017, and Dec. 17, 2017, respectively....

  
Report Type:

Research Update

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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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Petroleos de Venezuela Ratings On 2024 And 2021 Senior Unsecured Notes Cut To 'D' From 'CC' On Missed Interest Payment" Dec 19, 2017. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Petroleos-de-Venezuela-Ratings-On-2024-And-2021-Senior-Unsecured-Notes-Cut-To-D-From-CC-On-Missed-Interest-Payment-1973571>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Petroleos de Venezuela Ratings On 2024 And 2021 Senior Unsecured Notes Cut To 'D' From 'CC' On Missed Interest Payment Dec 19, 2017. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Petroleos-de-Venezuela-Ratings-On-2024-And-2021-Senior-Unsecured-Notes-Cut-To-D-From-CC-On-Missed-Interest-Payment-1973571>
  
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