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.

Link: http://www.nationnews.com/nationnews/news/96123/standard-poors-downgrades-trinidad-tobago