Today, the rating agency Standard & Poor’s (S&P) affirmed Trinidad and Tobago’s investment grade rating at BBB-, while revising the outlook from stable to negative.

S&P’s affirmation of Trinidad and Tobago’s investment grade status reflects the country’s long established democratic institutions, economic stability, favourable external profile and buffers (“This profile includes a strong external creditor position, supported by assets in the Heritage and Stabilisation Fund (HSF)”). However, S&P has revised the outlook from stable to negative, signalling the need for reforms to enhance fiscal sustainability and improve economic diversification.