(El Universal) - "Financial management and advisory company Merrill Lynch increased the rating of Venezuela and Turkey to over the market average in the portfolio of sovereign external debt, but reduced its exposition to the debts of Colombia, the Philippines and Serbia.

Merrill Lynch ranked Venezuela over the market average a month after reducing its exposition to this facility on behalf of Ecuador, Reuters reported.

The issuance of bonds accounting for USD 7.5 billion by state-run oil holding Petróleos de Venezuela (Pdvsa) was expected to exert pressure on the curve of the country's sovereign yield.

'Despite the size of the issuance, Pdvsa bonds offer has been modest,' Merill officials said. The bonds will be part of higher indexes that could increase the demand, they added".