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Venezuela says debt refinancing underway, S&P calls selective default


By Andrew Cawthorne and Dion RabouinCARACAS/NEW YORK (Reuters) - Venezuela's cash-strapped government said its plan to refinance some $60 billion in bonds was successfully underway after a creditors' meeting in Caracas but a rating agency declared the nation in selective default over missed coupon payments.President Nicolas Maduro's negotiating committee met briefly with investors in Caracas on Monday but offered no firm proposals on its intention to alleviate Venezuela's crippling foreign debt amid an unprecedented economic meltdown."The process of refinancing Venezuela's foreign debt began ...

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First Published: Tue, November 14 2017. 18:33 IST