RATING ACTION:
On September 14, 2023, CariCRIS reaffirmed the Issuer/Sovereign Credit ratings CariAA (Foreign and Local Currency Ratings) on its regional rating scale assigned to the Government of the Republic of Trinidad and Tobago (GORTT). A stable outlook was maintained.
RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement in the ratings and/or outlook include:
- A decrease in total general government debt to below 65% of GDP over the next 12 months
- A sustained improvement in debt servicing capability to above 7 times over 2 consecutive years
- A fiscal surplus in excess of 3% of GDP sustained over 2 consecutive years
- A rise in import cover to 12 months or more over the next 24 months
Factors that could, individually or collectively, lead to a lowering of the ratings and/or outlook include:
- An increase in total general government debt to above 100% of GDP over the next 12 months
- A sustained deterioration in debt servicing capability to below 3 times over 2 consecutive years
- A fiscal deficit in excess of 10% of GDP sustained over 2 consecutive years
- A fall in import cover to 6 months or less over the next 12 months
- Annual economic contraction of greater than 2% over the next 2 years
Analysts’ Contact Info:
Stefan Fortuné
Phone: 1-868-799-6751 (m)
Megan Dass
Disclaimer: CariCRIS has taken due care and caution in compilation of data for this product. Information has been obtained by CariCRIS from sources which it considers reliable. However, CariCRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. No part of this report may be published / reproduced in any form without CariCRIS’ prior written approval. CariCRIS is also not responsible for any errors in transmission and especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this product.