S&P Affirms T&T's Credit Rating As Stable

Finance Minister Colm Imbert says Standard and Poor’s affirmation of this country’s credit rating is a positive development, noting that T&T is one of the few Investment Grade countries within the Latin America and Caribbean region, and the only one in the Caribbean. On Wednesday, rating agency Standard and Poor’s (S&P) affirmed Trinidad and Tobago’s BBB-credit rating with a stable outlook. Mr. Imbert said while the rating had a negative outlook up to July last year, T&T’s economic and financial performance and its institutional stability has helped to stabilize the outlook. He said S&P in its credit rating reflects that T&T faced with a ‘propitious situation’ in 2022, the Government used the surplus to accelerate VAT refunds and contribute to the Heritage and Stabilization Fund, adding that S&P does not expect net debt to rise. Mr. Imbert said S&P also highlights this country’s good policy practices stating that unlike many commodity exporters, T&T saves excess fiscal revenues in the HSF during boom years.