CARIBBEAN: S&P lowers Trinidad and Tobago’s credit rating

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CARIBBEAN: S&P lowers Trinidad and Tobago’s credit rating

S-PJAMAICA OBSERVER – International credit rating agency Standard & Poor’s has revised to negative it’s outlook on the economy of Trinidad and Tobago.

The agency has affirmed its ‘A/A-1’ long-and short-term sovereign credit ratings on the Republic of Trinidad and Tobago (T&T).

“At the same time, we revised the outlook on the long-term ratings to negative from stable. Our ‘AA’ transfer and convertibility assessment for T&T is unchanged,” S&P said.

In a report issued on Thursday, S&P said the change in outlook to negative from stable “reflects an at least one-in-three chance that prolonged low energy prices and potentially poor GDP (gross domestic product) growth prospects could result in a steadily rising debt burden, leading to a downgrade in the next two years”.

According to S&P, the public finances of the twin island republic are vulnerable to a prolonged and substantial drop in energy revenues.

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2 COMMENTS

  1. No idea what this new rating should do ..... But thanks a lot S&P am sure the new information will be put into good use

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  2. The Trinidad's oil pressure is reading low again. Captain the ship is sinking....Shall we abandon ship or sail on it ....and perish slow. Captain tell we what to do.

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