Moody's Investors Service has reaffirmed Trinidad and Tobago's Ba2 credit rating with a Stable outlook, highlighting the nation's economic recovery and diversification efforts. In a media release issued on Wednesday by the Ministry of Finance, it disclosed that the affirmation was given on December 16th 2024.
00:00The rating is supported by growth in the non-energy sector and the government's progress in fiscal reform, including the launch of the Trinidad and Tobago Revenue Authority in 2025.
00:12While lower energy revenues in 2024 increased the fiscal deficit to 4.8% of GDP, Moody's acknowledged the country's financial buffers, such as the Heritage and Stabilization Fund and cash reserves exceeding 40% of GDP.
00:30In the media release, Finance Minister Colm Imbert emphasized the positive recognition of the country's diversification efforts and commitment to fiscal reforms.
00:41Moody's also noted that investments like Shell T&T's recent decisions and new gas projects, including Osprey and Cascadoura, enhance growth prospects and energy production stability.
00:54International markets have further validated the nation's strengths, with the successful 750 million bond issuance in 2024 and competitive debt yields.
01:06Trinidad and Tobago also holds investment-grade ratings from S&P and the Caribbean Information and Credit Rating Services Limited, reflecting strong economic fundamentals and prudent management, according to the minister.
01:22The medium-term outlook for the country remains promising as it continues its path towards sustainable growth.
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