S&P revises Trinidad entities view to negative

S&P said it revised the outlooks for National Gas Co. of Trinidad & Tobago and Trinidad Generation Unlimited to negative from stable and affirmed all its ratings for the two companies.

The affirmation and outlook revision for the two government-related infrastructure companies follows a similar action on Trinidad & Tobago’s sovereign rating on Tuesday, the agency said.

“The negative outlook reflects a one-in-three chance of a downgrade of TGU and NGC in the next 12-24 months, while conditions and underlying rating fundamental remain unchanged, if we were to cut our ratings on T&T, because we don't envision these entities to be rated above their parent due to their very strong link to the government,” S&P said in a press release.

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