Today BCV bond XS0214851874 matures

[UKIPA Holdings, LLC]

Today we will know if BCV will honor its debt obligation and pays for the matured Euro bond (Eur1B) with ISIN code XS0214851874. If BCV pays what is due, Moody's should improve the rating. From Caa3 to BB-? or at least Caa1/stable.

Any comments?

[niseag]

even if they do I see no rating improvement

[UKIPA Holdings, LLC]

www.reuters.com/article/2015/03/16/venezuela-debt-idUSL2N0WI1O820150316


UPDATE 1-Venezuela says pays off 1 billion euro Global 2015 bond

(Reuters) - Venezuela has paid off its 1 billion euro Global 2015 bond that came due on Monday, the finance minister said, the first foreign debt maturity in a year of heavy bond payments that have stretched the OPEC nation's coffers amid a period of low oil prices.

Concerns that Venezuela could default on foreign debt have pushed yields to the second highest of any emerging market nation. President Nicolas Maduro has dismissed default talks as a smear campaign against his administration.

"The Bolivarian government honors all of its national and international commitments, always hand in hand with President

Venezuela also paid 70 million in interest on the bond, Marco added.

Venezuelan bonds pay an average of 30 percentage points more than comparable U.S. Treasuries, second only to war-torn Ukraine, driven by concerns about the decay of its state-led economic model and a steady decline in foreign reserves.

The government and the state oil company, PDVSA, together will be required to make $8.4 billion in debt payments during the rest of 2015, according to Thomson Reuters data, including a $2.3 billion amortization on a PDVSA bond in November. (Reporting by Deisy Buitrago; Writing by Brian Ellsworth; Editing by Jeffrey Benkoe)

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Venezuela | Credit Rating

Standard & Poors credit rating for Venezuela stands at B+. Moodys rating for Venezuela sovereign debt is B2. Fitchs credit rating for Venezuela is B+. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Venezuela thus having a big impact on the country's borrowing costs. This page provides - Venezuela | Credit Rating - actual values, historical data, forecast, chart, statistics, economic calendar and news. 3/17/2015

[UKIPA Holdings, LLC]

UPDATE 2-Venezuela pays off 1 bln euro bond, vows to keep servicing debt
Mon Mar 16, 2015 8:51pm EDT

CARACAS, March 16 (Reuters) - Venezuela said on Monday it has paid off its 1 billion euro Global 2015 bond, the first foreign debt maturity in a year of heavy bond payments that have stretched the OPEC nation's coffers amid a period of low oil prices.

President Nicolas Maduro vowed the South American nation would continue to service its debt, and slammed default concerns that have pushed yields to the second highest of any emerging market nation.

"Venezuela in 2015 will continue, despite lower oil prices... to fulfill its international obligations, one by one," he said in a television broadcast on Monday night.


"We'll obtain all the resources, as I have been obtaining them. Oil prices are quite low, around $44, oscillating there," he added.

Venezuela also paid 70 million in interest on the bond on Monday, Finance Minister Rodolfo Marco said earlier on Twitter.

Venezuelan bonds pay an average of 30 percentage points more than comparable U.S. Treasuries, second only to war-torn Ukraine, driven by concerns about the decay of its state-led economic model and a steady decline in foreign reserves.

Maduro blamed the bonds' performance on an "imperialist war" waged by credit rating agencies and a Miami elite intent on bringing down his government.

The government and the state oil company, PDVSA, together will be required to make $8.4 billion in debt payments during the rest of 2015, according to Thomson Reuters data, including a $2.3 billion amortization on a PDVSA bond in November.

Maduro's administration has told the country's food industry that it is limiting dollar disbursements for food imports so that it can pay down foreign debt, according to two sources with direct knowledge of the situation. (Reporting by Caracas newsroom; Writing by Brian Ellsworth and Alexandra Ulmer; Editing by Jeffrey Benkoe, Bernard Orr)

www.reuters.com/article/2015/03/17/venezuela-debt-idUSL2N0WI1O820150317