S&P Global Ratings said Wednesday it has placed Venezuela's state-owned oil company PDVSA in "selective default" after it failed to make its interest payments on some of its debt.

"S&P Global Ratings lowered its corporate credit rating on Petroleos de Venezuela SA (PDVSA) to 'SD' (selective default) from 'CC'," the rating agency said in a statement, a day after another rating agency, Fitch, had announced a similar decision.