From The Wall Street Journal:
S&P Downgrades Venezuela on Worsening Economy
Rising Inflation, Economic Pressures Prompt Rating Cut
Standard & Poor's Ratings Services on Tuesday cut Venezuela's credit rating further into junk territory, citing President Nicolás Maduro's failure to take steps to combat rising inflation and a deepening economic crisis.
S&P downgraded Venezuela's rating from B-minus to triple-C-plus. The new rating indicates that there is a one-in-two chance that the South American country defaults on its sovereign debt in the next two years.
at 8:37 PM Tuesday, September 16, 2014
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