Moody’s confirms T&T’s credit rating in the midst of the COVID-19 crisis

Moody’s confirms T&T’s credit rating in the midst of the COVID-19 crisis

The Minister of Finance, Colm Imbert today, announced Moody’s Investors Service has confirmed Trinidad and Tobago’s rating at Ba1, as one of the highest in the Caribbean region.

According to a media release issued this afternoon by the Finance Minister, Moody’s has confirmed Trinidad and Tobago’s rating at Ba1; in a series of rating decisions that have seen a number of oil and gas exporting countries
downgraded all over the world, Moody’s has simply changed the outlook to negative.

“Moody’s decision to keep the rating of Trinidad and Tobago unchanged is a testimony to the resilience of the
country, in the face of unprecedented shocks”, says Minister Imbert.

Minister Imbert said the COVID-19 crisis combined with the collapse of oil prices have led rating agencies to change the rating of a very large number of countries.

“The shock-absorption capacity of Trinidad and Tobago has been enhanced by a bold and pro-active policy
response. The rating stability owes in good part to the track record of the government, which responded to the
previous oil shock post 2015 in a way that, according to Moody’s, exceeded its expectations,” says Minister Imbert.

The Finance Minister said “it is the intention of the government to continue to preserve what underpins Moody’s credit rating; the sizable fiscal buffers, low liquidity risk and limited external vulnerabilities.”

Minister Imbert added that “each of them protect the population of Trinidad and Tobago throughout exceptionally adverse global circumstances.”

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