Venezuela Rating Cut by Moody’s as Oil Plunge Hits Finances

Venezuela had its credit rating cut by Moody’s Investors Service to the world’s worst among countries not in default, as falling oil prices strain a government already confronting food shortages and 64 percent inflation.

Moody’s cut Venezuela’s rating two levels to Caa3, according to a statement, putting it on par with Ukraine, racked by conflict with Russia-aligned rebels, and Jamaica, which has defaulted twice since 2010.