Trinidad & Tobago gets downgraded

Standard and Poor’s (S&P) has downgraded Trinidad & Tobago’s long term sovereign rating from A- to BBB+.

S&P claimed that the downgrade was due to the country’s deteriorating fiscal position, the rising interest burden and increasing pressures on the foreign exchange reserves.

S&P maintained that despite these economic challenges, the political scene is expected to remain stable in the medium term.


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