HALISTER: Venezuela Said to Seek Financial Support From Rosneft: Reuters

Venezuela Said to Seek Financial Support From Rosneft: Reuters

(Bloomberg) -- Venezuela is in talks to receive financial support from Russian state-run oil co. Rosneft to help meet debt-service payments in April, Reuters says, citing three people familiar.
  • Rosneft has previously made loans to Venezuelan state oil co. PDVSA in exchange for oil, and it would be the principal source of funds Venezuela needs to avoid default, the people said
  • Central bank is gathering bonds to serve as collateral for a $600m loan the country is seeking, which would help cover Venezuela’s obligations in April, another person said
  • Rosneft, PDVSA, central bank didn’t immediately respond to questions: Reuters
  • NOTE: Feb. 22, Rosneft’s Early Payments to PDVSA Totaled $1.5 Billion in 2016

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
ROSN RM (Rosneft Oil Co PJSC)
PDVSA VC (Petroleos de Venezuela SA)

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HALISTER1: 2016 DBRS Structured Finance Rating Transition and Default Study

2016 DBRS Structured Finance Rating Transition and Default Study

Alert: HALISTER1
Source: DBR (Dominion Bond Rating Service)

People
Claire Mezzanotte (DBRS Inc)
Jan Buckler (DBRS Inc)

Topics
Credit Analysis Research
Credit Research
Fixed Income Research
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Reports

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