Moody's downgrades Trinidad & Tobago

Moody's downgrades Trinidad & Tobago

Corporate & Sovereign Strategy Credit Ratings Downgrade Moody's Investors Service Trinidad & Tobago

Moody's has downgraded Trinidad & Tobago by one notch to Ba2 with a stable outlook, dropping the country deeper into junk territory as a "higher debt burden" caused by the COVID-19 pandemic continues to weaken its credit profile. "The impact of the pandemic increased the general government debt-to GDP ratio to almost 85% at the end of fiscal 2021 from 62% in 2019," Moody's said in a report on Friday, adding that it expects Trinidad and Tobago's debt ratio to remain around 85% to 90% over the

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