Author Topic: Fitch Downgrades Venezuela(Liberals' eutopia) to 'B'; Outlook Negative  (Read 1222 times)

loco

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Fitch Downgrades Venezuela to 'B'; Outlook Negative
Tue Mar 25, 2014 12:45pm EDT

(The following statement was released by the rating agency) NEW YORK, March 25 (Fitch) Fitch Ratings has downgraded Venezuela's ratings as follows: --Long-term foreign and local currency Issuer Default Ratings (IDRs) to 'B' from 'B+'; Outlook Negative; --Senior unsecured foreign and local currency bonds to 'B' from 'B+'; --Country Ceiling to 'B' from 'B+'; Fitch has affirmed the short-term foreign currency IDR at 'B'. KEY RATING DRIVERS The downgrade reflects heightened macroeconomic instability and delays in the implementation of policies to address rising inflation and distortions in the foreign exchange (FX) market and the deterioration in Venezuela's external accounts. The Negative Outlook signals that the lack of sustained and coherent policy adjustments could lead to further erosion in external buffers, macroeconomic and financial instability, and exacerbate the risk of social unrest given the high level of political polarization. Macroeconomic instability has increased in Venezuela as highlighted by spiraling inflation and recessionary conditions in the economy. Growth has declined rapidly after the 2012 electoral year to 1.3% in 2013, down from 5.6% in 2012 with Fitch forecasting an economic contraction of 1% in 2014. Inflation reached 52.7% by the end of 2013.

http://www.reuters.com/article/2014/03/25/fitch-downgrades-venezuela-to-b-outlook-idUSFit69472120140325

Slapper

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Fitch was part of a group of rating agencies that gave top grades to stellar corporations like Lehman Brothers or AIG. Right before they went belly up or got bailed out too.

If you believe what rating agencies say you're drank the cool-aid.


George Whorewell

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Fitch was part of a group of rating agencies that gave top grades to stellar corporations like Lehman Brothers or AIG. Right before they went belly up or got bailed out too.

If you believe what rating agencies say you're drank the cool-aid.



Indeed. Venezuela is an investors paradise at the moment.  Greedy banks and right wing extremists in the American media manufactured a negative outlook because they are racist against Latinos.

loco

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Indeed. Venezuela is an investors paradise at the moment.  Greedy banks and right wing extremists in the American media manufactured a negative outlook because they are racist against Latinos.

LOL    ;D

Slapper

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Fitch Downgrades Venezuela(Liberals' eutopia) to 'B'; Outlook Negative
« Reply #4 on: March 28, 2014, 07:02:27 PM »
Indeed. Venezuela is an investors paradise at the moment.  Greedy banks and right wing extremists in the American media manufactured a negative outlook because they are racist against Latinos.

Dude, Fitch, Standard & Poor's and Moody's gave AIG, Lehman Brothers, Bear Stearns, et cetera, high credit ratings up until they either collapsed or went looking for daddy government.

Would you trust someone who sold you a car as new when in reality it was used and abused?


George Whorewell

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Dude, Fitch, Standard & Poor's and Moody's gave AIG, Lehman Brothers, Bear Stearns, et cetera, high credit ratings up until they either collapsed or went looking for daddy government.

Would you trust someone who sold you a car as new when in reality it was used and abused?



You are preaching to the choir brother. I plan on diversifying my 401k by investing 97% of my money in Venezuelan (Caracas) Municipal Bonds. 

Soul Crusher

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You are preaching to the choir brother. I plan on diversifying my 401k by investing 97% of my money in Venezuelan (Caracas) Municipal Bonds. 

LOL

24KT

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You are preaching to the choir brother. I plan on diversifying my 401k by investing 97% of my money in Venezuelan (Caracas) Municipal Bonds. 

From my vantage point, I'm seriously considering researching to find out what companies manufacture FEMA coffins for DHS. The only reason I haven't summoned the will to do it before is... I don't read Mandarin.  ;D
w

loco

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You are preaching to the choir brother. I plan on diversifying my 401k by investing 97% of my money in Venezuelan (Caracas) Municipal Bonds. 

LOL

Slapper

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You are preaching to the choir brother. I plan on diversifying my 401k by investing 97% of my money in Venezuelan (Caracas) Municipal Bonds.

If putting 97% of your money on a particular city's municipal bonds is what you call "diversifying"...

Let me know how it goes.