Kirkland Alert Kirkland & Ellis LLP

Venezuela's Debt Crisis: Creditors' Options in a Disorderly Default

After months on the precipice of default, Venezuela’s President Maduro has acknowledged that Venezuela and its state-owned oil company PDVSA are unable to pay their debts. With a series of missed coupon payments and the 30-day grace period expired, all three major ratings agencies now rate Venezuela and PDVSA as in default or selective default.