Bloomberg News

Barclays Raises Venezuelan Debt to ‘Overweight’ on Oil Prices

December 01, 2011

Dec. 1 (Bloomberg) -- Barclays Capital raised its recommendation on Venezuelan debt to “overweight” from “marketweight” today citing high oil prices and a low correlation with the global economy, according to a research note.

Barclays also raised its 2012 inflation forecast for Venezuela to 36.5 percent from 26.2 percent on expectations of an “impressive fiscal expansion” ahead of next year’s presidential elections.

To contact the editor responsible for this story: Daniel Cancel at dcancel@bloomberg.net


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