Venezuela -- Moody's: Venezuela faces increasing uncertainty

New York, January 09, 2013 -- Moody's: With Venezuela's President Hugo Chavez unable to attend the inauguration for his next Presidential term originally scheduled to take place on Thursday, January 10 due to his seemingly terminal cancer, Venezuela faces a period of heightened political uncertainty. The current situation appears to revive the possibility that an opposition candidate could take over the presidency and with it begin to usher in economic reforms that could improve Venezuela's credit picture in the medium term. Regardless of who succeeds Chavez and which part of the political spectrum they represent, however, this potential opportunity is outweighed in the shorter term by risks associated with the political transition that could negatively impact Venezuela's rating if they crystallize.

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