S&P lowers two Trinidadian companies

S&P said it lowered its local and foreign currency ratings on the National Gas Co. of Trinidad & Tobago Ltd. to BBB from BBB+ and on Trinidad Generation Unlimited to BBB- from BBB.

The outlook on these ratings is stable.

The rating actions follow the sovereign's downgrade to BBB+ from A-.

S&P said the rating action on the sovereign reflects further weakening in its debt burden, including a higher-than-expected rise in net general government debt to GDP and the interest burden over 2017-2020.

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