Wall Street Investors Who Stuck With Venezuela Are Poised for a Payday
Many holding distressed Venezuelan assets hope that Maduro’s ouster signals a windfall after a long time out in the cold
The ouster of Nicolás Maduro is rewarding investors who spent years betting on a Venezuela comeback.
Investment firms including Fidelity and T. Rowe Price have been stuck holding tens of billions of dollars in underwater Venezuelan bonds that the government and state-owned companies such as Petróleos de Venezuela borrowed years ago. U.S. investors once held about $50 billion of Venezuelan debt, before many sold and wrote off the losses after the first Trump administration isolated Venezuela through sanctions.
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