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S&P Maintains A Rating on Trinidad and Tobago

S&P Maintains A Rating on Trinidad and Tobago

Posted by Shanelle Weir on December 23, 2014

Ratings agency Standard & Poor’s affirmed on Monday its A long-term sovereign credit rating for Trinidad and Tobago, with a stable outlook.

The New York-based agency attributed the rating to the twin-island nation’s stable political system, “low vulnerability” and persistent current account surpluses.

Trinidad and Tobago’s government has also promoted a climate of largely local financing of the public sector, S&P noted.

“The increase in exploration activities in the oil and gas sector in recent years should sustain energy production over the coming decade, contributing to long-term economic growth,” S&P said, forecasting 2 percent median annual growth in gross domestic product over the next four years.

However, S&P raised concerns over a sustained fall in global energy prices that would eventually hurt fiscal revenues and GDP growth and “weaken T&T’s external liquidity.”
 

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