Fitch declares restricted default Venezuela

© RIA Novosti / Dmitry Zamaskirovalis bolivars. Archival photoFitch declares restricted default Venezuela© RIA Novosti / Dmitry Znamenskiy

International rating Agency Fitch announced Tuesday about lowering long-term rating of Venezuela for the obligations in foreign currency to «restricted default» (RD).

The Agency notes that the reason for the decision was the failure to obtain the investors interest payments of sovereign bonds maturing in 2019 and 2024.

This decision was made despite the statement of the Minister of communication of Venezuela, Jorge Rodriguez about the beginning of the interest payments for external debt service from Tuesday. Earlier President Nicolas Maduro said that his country has never defaulted.

On Monday the international rating Agency S&P also lowered the rating of Venezuela for the obligations in foreign currency to «SD» (selective default) after the country paid $ 200 million in bonds maturing in 2019 and 2024. Venezuelan authorities have begun negotiations with investors on the restructuring of external debt of the country.

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