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Venezuela says debt refinancing under way, S&P calls selective default


By Andrew Cawthorne and Dion RabouinCARACAS/NEW YORK (Reuters) - Venezuela's cash-strapped government insisted it had successfully begun efforts to refinance some $60 billion in bonds, though creditors disagreed following fruitless talks and a ratings firm declared the nation in selective default.Venezuelan bonds slid on Tuesday after S&P Global Ratings announced that Venezuela was in selective default for failing to make $200 million in overdue coupon payments on its 2019 and 2024 global issues within a 30-day grace period. Investors, meanwhile, voiced concern after President Nicolas ...

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First Published: Tue, November 14 2017. 23:33 IST