PdVSA postpones debt payments through bond swap, experts weigh possible default
Caracas, Venezuela (Credit: 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.
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