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

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 but total confusion, with neither Venezuela, nor creditors knowing what is on the agenda, why they were meeting, or what is the endgame.

Things Are Escalating Quickly

Things Are Escalating Quickly

Authored by Mike Krieger via Liberty Blitzkrieg blog,

I didn’t spend all week writing about the gigantic tremors occurring in the Middle East because I thought it was fun. If I’m even remotely correct in my analysis, the entire world will be affected and shaped for decades to come by what’s about to go down in the region.

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