CLEAN : Grupo de acreedores (ISDA) afirma que PDVSA esta en default

CLEAN : Grupo de acreedores (ISDA) afirma que PDVSA esta en default

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Interactive Video

Business, Social Studies, History

9th - 10th Grade

Hard

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The International Association of Swaps and Derivatives (SDA) declared Venezuela's state oil company PDVSA in default. Creditors, who had been meeting daily, plan to reconvene to decide on further actions. Fitch downgraded PDVSA's bonds to selective default, while Standard & Poor's declared Venezuela in partial default after a missed payment. PDVSA's bonds account for 30% of Venezuela's $150 billion external debt. The Maduro government aims to refinance this debt and has agreed to restructure $3 billion owed to Russia.

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3 mins • 1 pt

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