July 10, 2019
S&P Global lowered the sovereign rating for Trinidad and Tobago to BBB from BBB+, citing lower-than-expected energy production and slower economic growth.
The twin factors will reduce the government's revenue base and delay its plans to balance the budget by fiscal year 2020-2021, according to S&P Global.
The ratings agency also said that government reforms aimed at improving revenue collection and providing timely economic data have also been slow.
S&P Global maintained its stable
Outlook remains stable as sovereign rating lowered to BBB from BBB+