Our ratings have dropped a notch, but we more or less have held our own.
This was the response of Prime Minister Dr Keith Rowley to Tuesday’s downgrade of Trinidad and Tobago by the rating agency, Standard and Poor’s (S&P).
Speaking on Tuesday night at a political meeting in Pleasantville, Rowley said: “Trinidad and Tobago is in difficult times. Remember we were on the brink of collapse, today they reported our rating has dropped one level from BBB+ to BBB. We are still at investment grade...But they have upgraded our outlook from negative to stable,” he said, to applause.
He said the reason for this was because of this country’s stable external profile and stable democracy. “They (the rating agency) also say it reflects on the country’s solid level of Government financial assets and good fiscal and external performance,” he added.