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Message: Chavez ---RBS---- credit line !!!

Chavez ---RBS---- credit line !!!

posted on Oct 18, 2008 11:09AM

with all the fanfare of yesterday: RBS answer.

oiramoric

LONDON, Oct 18 (Reuters) - Royal Bank of Scotland (RBS.L: Quote, Profile, Research, Stock Buzz) said on Saturday it has not pulled any lines of credit from Venezuela's state oil company PDVSA, denying a report it had withdrawn a $5 billion facility.

U.S. business news channel CNBC reported late on Friday that RBS had eliminated a credit line to PDVSA, following similar reports in two small Venezuelan anti-government newspapers.

A spokeswoman for RBS said the credit line referred to had not been approved earlier this year and had therefore never been withdrawn.

She said the British bank had other lines of credit out to Venezuela from both its RBS and ABN AMRO businesses and that these were running as normal. (Reporting by Steve Slater, editing by Swaha Pattanaik)

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