Fitch affirms, withdraws PDVSA, Corpoelec

Fitch Ratings said it affirmed and simultaneously withdrew all of Petroleos de Venezuela SA's (PDVSA) and Corporacion Electrica Nacional SA's (Corpoelec) ratings.

The affirmations and withdrawals apply to PDVSA’s and Corpoelec’s long-term foreign and local currency issuer default ratings at RD, national scale ratings at RD(ven), senior secured notes at C/RR4, and senior unsecured at C/RR5.

The agency said the withdrawal is a result of the U.S. Department of Treasury's Office of Foreign Assets Control's imposed sanctions relating to PDVSA and the shareholders of Corpoelec.

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