Executive Summary
On November 14, 2017, Venezuela was declared in default by S&P after missing bond payments. According to S&P, Venezuela had failed to make USD 200mn in coupon payments for bonds due 2019 and 2024 within the allowed 30-day grace period. The agency said the 30-day grace period had expired for a payment that was due in October. And S&P has stated that there is a 50% chance that Venezuela could default again within the next three months.
