S&P boosts Trinidad and Tobago

Standard & Poor's said it raised its long-term foreign currency sovereign credit rating on the Republic of Trinidad and Tobago to A/A-1 from A-/A-2.

At the same time, S&P said it raised its transfer and convertibility risk assessment rating on the republic to AA from AA-.

The outlook is stable.

In addition, S&P said it affirmed its A+ long-term local, A-2 short-term foreign and A-1 short-term local currency sovereign credit ratings on Trinidad and Tobago.

The agency said that the ratings are supported by continuous and strong fiscal and external balances supported by a booming energy economy that, in turn, enhances policy flexibility.

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