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S&P Downgrades Venezuela To “Selective Default” After Bondholder Meeting Devolves Into Total Chaos

Creditors had little expectations from today’s ad hoc meeting with “soon-to-default” Venezuela, and with good reason: not only was the meeting attended by several sanctioned Venezuelan officials, potentially jeopardizing the legal status of any bondholders who voluntarily appeared at the Caracas meeting meant to “restructure and refinance” Venezuela’s massive debt load, but it was nothing […]


Venezuela Just 24 Hours Away From Formal Declaration Of Default

Less than a week after Venezuela shocked the world by announcing it would proceed to restructure its massive external debt, even as it was within the grace period on hundreds of millions in unpaid interest expense, on Thursday the socialist nation confirmed it has never been closer to an official default after Reuters reported that […]


“Tomorrow Will Be Ugly”: Venezuela To Restructure All Debt As Creditors Panic Over Imminent Default

One week ago, we and many others wondered, if the time has finally come for Venezuela, which was facing a “no grace period” $842 million principal payment for bonds issued by state-run energy company PDVSA, to default on its billions of unrepayable obligations. As we reported then, the liquidity crisis for Venezuela was especially acute […]


Default Time: Venezuela Announces It Will Restructure All Debt After Tomorrow’s Final Payment

One week ago, we and many others wondered, if the time has finally come for Venezuela, which was facing a “no grace period” $842 million principal payment for bonds issued by state-run energy company PDVSA, to default on its billions of unrepayable obligations. As we reported then, the liquidity crisis for Venezuela was especially acute […]


Maduro To Generals: Prepare For War With “Criminal Empire” US

After barely managing to scrape together the nearly $200 million needed to make a bond payment earlier this month (the country made the payment a week late), Embattled Venezeulan President Nicolas Maduro is refocusing his attention on the US, warning military leaders Tuesday to begin preparing for war with the US. Maduro's call to arms […]