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Fitch Affirms Venezuela's Ratings at 'CCC'

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NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed Venezuela's Long-term foreign and local currency IDRs at 'CCC'. Fitch has also affirmed the sovereign's Short-term foreign currency IDR at 'C' and the country ceiling at 'CCC'. KEY RATING DRIVERS Venezuela's ratings reflect the sovereign's weakened external buffers, high commodity dependence, rising macroeconomic distortions, reduced transparency in official data, and continued policy and political uncertainty. The sovereign's strong repayme

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