S&P lowers National Gas view to negative

Standard & Poor’s said it revised the outlook on the National Gas Co. of Trinidad & Tobago Ltd. to negative from stable and affirmed its A- rating.

The agency also said it affirmed the BB rating on the Petroleum Co. of Trinidad & Tobago Ltd. (Petrotrin).

The outlook on Petrotrin remains stable.

The outlook revision on National Gas reflects the similar action on Trinidad and Tobago, S&P said, and is in line with the criteria for government-related issuers.

The likelihood of extraordinary government support to National Gas is very high, which allowed a three-notch lift to the company’s stand-alone credit profile, the agency said.

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