New York, March 08, 2016 -- Moody's Investors Service ("Moody's") today changed the outlook on Petroleos de Venezuela (PDVSA)'s ratings to negative from stable. Moody's also affirmed PDVSA's Caa3 issuer rating and lowered the company's baseline credit assessment (BCA) to caa3 from caa1. These rating actions follow Moody's decision on March 4, 2016 to change the outlook on the Government of Venezuela's bond ratings to negative from stable.

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