Venezuela Faces ‘Revised View’ From Fitch as Oil Prices Sink
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Venezuela faces a “revised view” from Fitch Ratings in coming months on concern President Nicolas Maduro isn’t moving fast enough to bolster the nation’s finances amid an oil plunge.
Fitch lowered Venezuela’s rating in March to B, or five steps below investment grade, with a negative outlook as accelerating inflation and slowing growth spurred street protests. At the time, oil prices were high and the government could still find funding at low levels, said Erich Arispe, director of sovereign ratings for Latin America at Fitch.