``The current situation has led to political polarization and a sense of frustration among the population at large, including the business and labor sectors, the Catholic church, and the military,'' S&P said in a statement.
``This, in conjunction with presidential statements about the possibility of nationalizing banks ... and the danger of exchange controls or a state of emergency, have created an environment that is not conducive to investment and growth.''
The ratings agency affirmed Venezuela's single-B long- and short-term foreign currency sovereign credit ratings. At single B, the ratings are five notches below investment grade.
A downgrade would increase the cost of borrowing for the world's No. 4 oil exporter at a time when President Hugo Chavez is facing stiff domestic opposition to his leftist agenda and authoritarian style. [End Excerpt]
I guess the greedy investors are against Chavez too. Gosh, I thought they'd go anywhere and deal with anyone, to realize a profit. What investment are you talking about, Chinese investment?