S&P cuts Trinidad and Tobago

S&P said it lowered its long-term foreign and local currency sovereign credit ratings on the Republic of Trinidad and Tobago to BBB- from BBB. The outlook is stable.

At the same time, S&P lowered its short-term foreign and local currency sovereign credit ratings to A-3 from A-2.

S&P also revised down its transfer and convertibility assessment to BBB from BBB+.

“We expect lower oil and gas prices over the next several years will weaken Trinidad and Tobago's government revenues and lead to larger increases in net general government debt,” S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.