{"id":1930,"date":"2024-10-24T17:38:07","date_gmt":"2024-10-24T21:38:07","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1930"},"modified":"2025-05-03T17:38:41","modified_gmt":"2025-05-03T21:38:41","slug":"niquan-energy-trinidad-limited-5","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/niquan-energy-trinidad-limited-5\/","title":{"rendered":"NiQuan Energy Trinidad Limited"},"content":{"rendered":"<p class=\"badge\"><strong>CariCRIS lowers NiQuan\u2019s Ratings<\/strong><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">Caribbean Information &amp; Credit Rating Services Limited (CariCRIS), the region\u2019s credit rating agency, has today lowered the assigned issuer\/corporate credit ratings of NiQuan Energy Trinidad Limited (NiQuan or the Company) to <em>Cari<\/em><strong>B<\/strong> (Foreign and Local Currency Ratings) on the regional rating scale and <em>tt<\/em><strong>B<\/strong> on the Trinidad and Tobago (T&amp;T) National Scale as well as <em>jm<\/em><strong>B<\/strong> on the Jamaica National Scale. These ratings indicate that the level of creditworthiness of this obligor, adjudged in relation to other obligors in the Caribbean and within T&amp;T and Jamaica is <strong>weak<\/strong>.\u00a0<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">The lowering of the assigned ratings reflect (i) NiQuan\u2019s inability to attain full commercial operations at the nameplate capacity by September 30, 2023 (identified as a factor that could lead to a lowering of the rating in our March 2023 report) and (ii) the termination of the gas sales contract (GSC) by Trinidad and Tobago Upstream Downstream Energy Operations Company Limited (TTUDEOCL) and which has become subject to legal proceedings by NiQuan.<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">CariCRIS notes the considerable progress made by NiQuan in achieving a proven plant producing zero sulphur diesel and naphtha and have transferred 15,000 barrels of product to its off-taker, Paria Fuel Trading Company Limited. We will consider revising its ratings upward upon the successful resumption of a long-term GSC, together with successful refinancing of the existing Short-Term Note Instruments (STNI) into a longer-term facility. We may, however, further lower the ratings if the STNI is not refinanced or extended by December 31, 2023, or if any other credit negative events occur before that date.<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong>October 24, 2023 <\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CariCRIS lowers NiQuan\u2019s Ratings Caribbean Information &amp; Credit Rating Services Limited (CariCRIS), the region\u2019s credit rating agency, has today lowered the assigned issuer\/corporate credit ratings of NiQuan Energy Trinidad Limited (NiQuan or the Company) to CariB (Foreign and Local Currency Ratings) on the regional rating scale and ttB on the Trinidad and Tobago (T&amp;T) National [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"table_tags":[],"class_list":["post-1930","post","type-post","status-publish","format-standard","hentry","category-rating-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NiQuan Energy Trinidad Limited - CariCRIS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/niquan-energy-trinidad-limited-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NiQuan Energy Trinidad Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"CariCRIS lowers NiQuan\u2019s Ratings Caribbean Information &amp; Credit Rating Services Limited (CariCRIS), the region\u2019s credit rating agency, has today lowered the assigned issuer\/corporate credit ratings of NiQuan Energy Trinidad Limited (NiQuan or the Company) to CariB (Foreign and Local Currency Ratings) on the regional rating scale and ttB on the Trinidad and Tobago (T&amp;T) National [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/niquan-energy-trinidad-limited-5\/\" \/>\n<meta property=\"og:site_name\" content=\"CariCRIS\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-24T21:38:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-03T21:38:41+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/niquan-energy-trinidad-limited-5\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/niquan-energy-trinidad-limited-5\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#\\\/schema\\\/person\\\/510bfdfe41fce6bedbec995f62a44967\"},\"headline\":\"NiQuan Energy Trinidad Limited\",\"datePublished\":\"2024-10-24T21:38:07+00:00\",\"dateModified\":\"2025-05-03T21:38:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/niquan-energy-trinidad-limited-5\\\/\"},\"wordCount\":268,\"commentCount\":0,\"articleSection\":[\"Rating Releases\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/niquan-energy-trinidad-limited-5\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/niquan-energy-trinidad-limited-5\\\/\",\"url\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/niquan-energy-trinidad-limited-5\\\/\",\"name\":\"NiQuan Energy Trinidad Limited - CariCRIS\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#website\"},\"datePublished\":\"2024-10-24T21:38:07+00:00\",\"dateModified\":\"2025-05-03T21:38:41+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#\\\/schema\\\/person\\\/510bfdfe41fce6bedbec995f62a44967\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/niquan-energy-trinidad-limited-5\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/niquan-energy-trinidad-limited-5\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/niquan-energy-trinidad-limited-5\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NiQuan Energy Trinidad Limited\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#website\",\"url\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/\",\"name\":\"CariCRIS\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#\\\/schema\\\/person\\\/510bfdfe41fce6bedbec995f62a44967\",\"name\":\"admin\",\"sameAs\":[\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\"],\"url\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"NiQuan Energy Trinidad Limited - CariCRIS","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/niquan-energy-trinidad-limited-5\/","og_locale":"en_US","og_type":"article","og_title":"NiQuan Energy Trinidad Limited - CariCRIS","og_description":"CariCRIS lowers NiQuan\u2019s Ratings Caribbean Information &amp; 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