S&P Global Ratings has reaffirmed Trinidad and Tobago’s investment-grade credit rating of BBB-, the Ministry of Finance announced Wednesday, with the decision preserving the country’s investment-grade standing while recognising its favourable external position and substantial national assets, including the Heritage and Stabilisation Fund (HSF).

S&P Global Ratings has reaffirmed Trinidad and Tobago’s investment-grade credit rating of BBB-, the Ministry of Finance announced Tuesday, with the decision preserving the country’s investment-grade standing while recognising its favourable external position and substantial national assets, including the Heritage and Stabilisation Fund (HSF).

The Government acknowledged that S&P has maintained a negative outlook on the rating, which it said reflects the consequences of years of weak economic growth, declining fiscal and external buffers, insufficient diversification and continued dependence on volatile energy revenues, problems it described as deep-rooted and inherited by the current administration.