REPUBLIKA.CO.ID, CARACAS - Venezuela's military chiefs appeared live on state TV on Tuesday to pledge their loyalty to Vice President Nicolas Maduro following the death of President Hugo Chavez. Chavez had named Maduro as his preferred successor.

Meanwhile, the death of Chavez will not have an immediate effect on Venezuela's sovereign rating, a Moody's analyst said on Tuesday, but the political transition after the controversial leader's passing will be key to any possible rating changes.

"We revised Venezuela's outlook to negative back in January in anticipation of the risks associated with the political transition, should he die," said Aaron Freedman, a senior sovereign analyst with Moody's Investors Service.

"So any further rating action would be dependent upon those risks materializing," he added.

Venezuelans will vote for a new president in 30 days and Maduro will temporarily assume power following the death on Tuesday of Hugo Chavez, the foreign minister said.

"The vice president assumes power as the president, and elections will be held in the next 30 days," Foreign Minister Elias Jaua said in televised comments.

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