Research Update: Petroleos de Venezuela S.A. 'SD' Issuer Credit And 'D' Issue-Level Ratings Withdrawn Due To Lack Of Timely Information - S&P Global Ratings’ Credit Research

Research Update: Petroleos de Venezuela S.A. 'SD' Issuer Credit And 'D' Issue-Level Ratings Withdrawn Due To Lack Of Timely Information

Research Update: Petroleos de Venezuela S.A. 'SD' Issuer Credit And 'D' Issue-Level Ratings Withdrawn Due To Lack Of Timely Information - S&P Global Ratings’ Credit Research
Research Update: Petroleos de Venezuela S.A. 'SD' Issuer Credit And 'D' Issue-Level Ratings Withdrawn Due To Lack Of Timely Information
Published Jun 12, 2019
3 pages (1273 words) — Published Jun 12, 2019
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On June 12, 2019, S&P Global Ratings withdrew its 'SD' issuer credit rating on Venezuela-based oil and gas company Petroleos de Venezuela S.A. (PDVSA). At the same time, we withdrew our 'D' issue-level rating on the company's debt. The withdrawal of our ratings on PDVSA follows our repeated attempts to obtain timely information of satisfactory quality from the company in order to maintain our ratings in accordance with our criteria and policies. 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 confirmation that the bondholders had received the funds by that date). This constitutes an event of default under

  
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 Adobe Acrobat
Buy Now

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


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 "Research Update: Petroleos de Venezuela S.A. 'SD' Issuer Credit And 'D' Issue-Level Ratings Withdrawn Due To Lack Of Timely Information" Jun 12, 2019. 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-Withdrawn-Due-To-Lack-Of-Timely-Information-2248711>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Petroleos de Venezuela S.A. 'SD' Issuer Credit And 'D' Issue-Level Ratings Withdrawn Due To Lack Of Timely Information Jun 12, 2019. 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-Withdrawn-Due-To-Lack-Of-Timely-Information-2248711>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.