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Standard & Poor's on Friday downgraded Venezuela's credit ratings as it implemented a new methodology more heavily focused on political risk—a key weakness in the oil-producing country.
S&P cut Venezuela's long-term sovereign rating to B-plus from BB-minus. The outlook on the new rating is stable. The agency's new methodology was published on June 30, a little more than a month before it invoked political concerns to downgrade U.S. credit ratings.
Originally posted by XplanetX
What happens when a country like Germany asks for it's gold. It has 3,500 tonnes, more than 70% of this is held by the federal reserve.