International ra­ting agency Moody’s has upgraded Trinidad and Tobago’s outlook to “stable” from “negative” while affirming the country’s Ba2 sovereign credit rating, signalling increased confidence in the country’s fiscal and economic trajectory.

Moody’s amended ra­ting comes before Finance Minister Davendra­nath Tancoo is due to present the mid-year budget review on Monday.

“This development follows closely on the IMF’s Article IV consul­tation and signals increa­sing international confidence in the policy direction pursued by the Government since taking office one year ago,” a release from the Finance Ministry said yesterday.