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PdVSA postpones debt payments through bond swap, experts weigh possible default

By Jack Barton

26 October 2016

PdVSA postpones debt payments through bond swap, experts weigh possible default Caracas, Venezuela iStock.com/Alfredo_Allais

Troubled Venezuelan state oil company Petróleos de Venezuela, SA (PdVSA) has dramatically reduced looming debt payments by closing a US$5.3 billion bond swap despite reservations from lawyers and criticism from ratings agency Standard & Poor’s.