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Research Update: Petroleos de Venezuela S.A. 'SD' Issuer Credit And 'D' Issue-Level Ratings Affirmed

Published Aug 21, 2018

4 pages (1426 words) — Published Aug 21, 2018

Price US$ 225.00 | Buy this Report Now

About This Report

Abstract:

Venezuela-based oil and gas company PDVSA has been in selected default since November 2017 when it missed the interest payment on its senior notes. We're affirming our 'SD' global issuer credit and 'D' debt ratings on the company. The company is in a debt restructuring process since the end of 2017; however, its result is uncertain in the short to medium term. On Aug. 21, 2018, S&P Global Ratings affirmed its 'SD' global scale issuer credit rating and 'D' issue-level ratings on Petroleos de Venezuela S.A. (PDVSA). We understand that PDVSA has been unable to meet the coupon payments on its 2017, 2021, 2024, 2026, 2027, and 2037 notes since November 2017 (or we have been unable to obtain a

Brief Excerpt:

...+ Venezuela-based oil and gas company PDVSA has been in selected default since November 2017 when it missed the interest payment on its senior notes. + We're affirming our '##' global issuer credit and 'D' debt ratings on the company. + The company is in a debt restructuring process since the end of 2017; however, its result is uncertain in the short to medium term....

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:

PDF

Research Update: Petroleos de Venezuela S.A. 'SD' Issuer Credit And 'D' Issue-Level Ratings Withdrawn Due To Lack Of Timely Information – 2019/06/12 – US$ 225.00

Research Update: Petroleos de Venezuela Ratings On 2024 And 2021 Senior Unsecured Notes Cut To 'D' From 'CC' On Missed Interest Payment – 2017/12/19 – US$ 225.00

Research Update: Petroleos de Venezuela Debt Rating On 2026 Senior Unsecured Notes Lowered To 'D' From 'CC' On Missed Interest Payment – 2017/12/18 – US$ 225.00

Petroleos de Venezuela S.A. Issue-Level Rating On 2024 Senior Unsecured Notes Raised To 'CC' From 'D' – 2017/12/14 – US$ 150.00

Research Update: Petroleos de Venezuela Debt Rating On Senior Unsecured Notes Due 2017 Lowered To 'D' On Missed Interest Payment – 2017/12/05 – US$ 225.00

Research Update: Petroleos de Venezuela Downgraded To 'SD' On Missed Interest Payment; Unsecured Debt Due 2027 And 2037 Cut To 'D' – 2017/11/14 – US$ 225.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Research Update: Petroleos de Venezuela S.A. 'SD' Issuer Credit And 'D' Issue-Level Ratings Affirmed" Aug 21, 2018. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Petroleos-de-Venezuela-S-A-SD-Issuer-Credit-And-D-Issue-Level-Ratings-Affirmed-2089226>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Petroleos de Venezuela S.A. 'SD' Issuer Credit And 'D' Issue-Level Ratings Affirmed Aug 21, 2018. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Petroleos-de-Venezuela-S-A-SD-Issuer-Credit-And-D-Issue-Level-Ratings-Affirmed-2089226>

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