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BRIEF-Fitch affirms Venezuela's ratings at 'CCC'
June 29, 2017 / 3:31 PM / 5 months ago

BRIEF-Fitch affirms Venezuela's ratings at 'CCC'

June 29 (Reuters) - Fitch:

* Fitch affirms Venezuela’s ratings at ‘CCC’

* Fitch on Venezuela says ‍also affirmed sovereign’s short-term foreign and local currency idrs at ‘c’ and country ceiling at ‘CCC’

* Fitch says ‍venezuela’s ratings reflect weak external buffers, high commodity dependence, large and rising macroeconomic distortions

* Fitch says Venezuela’s economic recovery is constrained by prospect of continued tight FX financing/liquidity conditions, declines in oil production & political uncertainty

* Fitch says Venezuela’s ratings also reflect reduced transparency in official data, and continued policy and political uncertainty​ Source text for Eikon:

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