Standard & Poor's declares a "selective default" when a country has failed to pay one or more of its financial obligations when it came due.
Beijing and Moscow have emerged as Venezuela's most reliable sources of funding, with China owed $28 billion and Russian Federation $8 billion.
The agency said on Tuesday it didn't have high expectations for the country, assessing the chances of Venezuela defaulting again within a three-month grace period at 50 per cent, which would result in a "default" rating.
Besides the two bond payments it has defaulted on, Venezuela is overdue on four other debt payments but they were still within the 30 day grace period, S&P said.
Instead, the head of the Venezuelan commission, Vice-President Tareck El Aissami, read a statement blaming sanctions imposed by the United States for Venezuela's difficulties in making the payments.
Restrictions include a ban on USA entities buying any new Venezuela debt issues - usually a required step in any restructuring. The government held a meeting with bondholders in Caracas on November 13 about a debt restructuring (generally considered akin to default), which is typically used to determine how much less investors will be paid than officially owed.
Mr Aissami, who has been accused of drug trafficking by the U.S., is himself on the list of Venezuelan individuals sanctioned by the U.S. treasury department.
Adding to the pressure on Maduro was the European Union's announcement of sanctions.
A default can be declared either by the major ratings agencies, big debt-holders or by the government itself.
Venezuela's envoy to the UN, Rafael Ramirez, called the meeting "illegal" and a "hostile" act "of interference" by the US.
Sales on spirits may be soaring, but McKevitt said we're garuanteed to see another surge ahead of the Christmas period. United Kingdom grocery sales reportedly increased 3.1 per cent year-on-year, and 1.7 per cent excluding discounters.
A total of 14 terrorists were killed in the aftermath of the tunnel collapse, including two senior Islamic Jihad field commanders. Rafah crossing between Egypt and the Gaza Strip is the enclave's only terminal not controlled by Israel.
We see that today; we're not manufacturing Xbox 360 and yet there are 360 games that do very well right now on our platform. You can head over to the Black Friday page on Microsoft's website to find out more about the many deals that it's offering.
Justice League is receiving mostly positive praise on social media ahead of its theatrical release this Friday. A number of people took to Twitter to slam the decision, labelling it "a step backwards".
The Army Corps of Engineers reportedly avoided hiring Whitefish because it charged twice as much as it should have. Mammoth Energy has 250 linemen in Puerto Rico rebuilding the power lines at the rate of $4,000 each per day.
Active Pharmaceutical Ingredients (API) business largely meant for captive consumption rose 6 percent to Rs 388 crores. The shares of Sun Pharmaceutical Industries closed today at Rs 526.15 on BSE, down 1.19 per cent from previous close.
Judge Mohammad Bashir issued the warrant on the grounds of "continued absence" from the court, according to a court statement. Earlier in the morning, the case was postponed till 12:30 PM as the investigation officer could not reach the court on time.
Jesus Christ, I'll make sure Uber knows what an [expletive] joke you are". " You're kidnapping me ", she continued. Platt , who could not be reached for comment, said he was " totally afraid " of being arrested when police arrived.
But the team proved it can be done without a whole lot effort, which in turn leaves a lot of OnePlus devices vulnerable. It looks like the Chinese smartphone company has accidentally left behind the app on some of its smartphone units.
Vidya Balan shocked over question about her weight
However, it's really hard to change people's perspective who think a well toned up body of a woman can only be called glamorous. Vidya Balan starrer " Tumhari Sulu " is just about to release and the promotions of the movie are going on in a big way.
India lose to Bangladesh, knocked out of U-19 Asia Cup
The defeat meant that Bangladesh and Nepal, from Group A, will join Pakistan and Afghanistan, respectively, in the semi-finals. With one win and two defeats in three matches, India U-19 finished third in Group A - above hosts Malaysia.
Credit Suisse fined $135m for NY forex investigation
The agreement is the latest in a string of global regulatory settlements with big Wall Street banks over forex trading practices. The probe is still ongoing in relation to other banks, according to a person familiar with the matter.
Chelsea legend Didier Drogba confirms retirement plans
Drogba joined second-tier Phoenix in 2017, after leaving Montreal Impact following the conclusion of the 2016 MLS season. Chelsea legend Didier Drogba has announced that he will retire from professional football at the end of next season.
Connected toys can be hacked by 'almost anyone'
The Bluetooth connections on the toys are unsecured so external devices could be used to manipulate the toys. Spiral Toys, which makes the Toy-Fi Teddy and CloudPets devices, has not yet commented on the report.