Moody's: Energy sector supports Trinidad & Tobago

Trinidad & Tobago's Baa1 government bond ratings and stable outlook are supported by relatively high levels of economic development, a strong external position, still-low government debt levels and a solid institutional framework, Moody's Investors Service said in its annual report on the country.

Per capita GDP is almost double the median of Baa-rated sovereigns, which is the result of the island nation's key energy sector, Moody's said.

But the ratings are limited by concerns about future growth, the agency said, and the recent trajectory of fiscal and debt metrics.

Key longer-term concerns for the country are its dwindling oil and gas reserves, which could be depleted in 15 years, Moody's said.

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