File - In this Monday, Jan. 12, 2015 photo, Ford vehicles sit on the lot at a car dealership, in Brandon, Fla. (AP Photo/Chris O'Meara)
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At least 40 major U.S. companies have substantial exposure to Venezuela's deepening economic crisis, and could collectively be forced to take billions of dollars of write-downs, a Reuters analysis shows.The official rate is at 6.3 bolivars to the dollar and there are two other rates in the government system – known as SICAD 1 and SICAD 2 – at about 12 and 50 . The assets would be worth a lot fewer dollars at the 50 rate in the government system and the dollar value would almost be wiped out at the black market rate.A Ford spokeswoman said it still values its Venezuela assets at about 12 bolivars per U.S. dollar.If those companies used Venezuela's SICAD 2 currency rate, the one at about 50 bolivars to the dollar, their assets would decline by as much as $5.8 billion. All of these companies currently either use the rates at 6.3 and 12 .PepsiCo Inc. said it would take an after-tax charge of up to $440 million if it revalued its Venezuela assets at the 50 rate.
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