Venezuela debt saga at standstill after 'ridiculous' meeting
Those hoping that Monday would bring clarity to the confusion surrounding Venezuela’s debt situation were out of luck as a meeting between the government and some bondholders offered no clues as to the country’s strategy.
As predicted by many, Monday’s meeting in Caracas produced little of substance, but it was a hardly an uneventful day. S&P downgraded the sovereign to default and Fitch did the same to PDVSA, while grace periods for coupon payments on both sovereign and PDVSA bonds expired without payment.
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