Chávez Risk To Reach Boiling Point

We have substantially downgraded Venezuela's political risk ratings, with the short-term rating falling hard from 71.7 to 58.5. Our decision reflects the growing threats from President Hugo Chávez's new constitutional reform attempt and the potential for him to use increasingly undemocratic tactics to remain in power indefinitely. We believe that the December 2007 defeat marked the end to Chávez's chances of democratically changing the constitution, as growing social unrest due to soaring crime levels and rampant inflation, as well as a renewed political opposition, would make a successful vote highly

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