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TNT’S CREDIT RATING HAS BEEN REAFFIRMED

by | Apr 21, 2014

Larry-HowaiTrinidad and Tobago’s Baa1 sovereign credit rating has once again been reaffirmed by Moody’s Investors Services, this according to a statement issued by Finance and the Economy Minister, Larry Howai.

According to the media statement, the reaffirmation is based on relatively high income levels , driven by the country’s large and diversified energy sector.

The Minister noted that Moody’s also based their evaluation on the expansion of the economy which, the he said the analysts identified, was mainly due to the performance of the non-energy sector, given the significant maintenance work that had to be done in the energy sector over the past year.

The minister added that this expansion has been driven to a large extent by an aggressive fiscal stimulus program which was complemented by an attractive monetary policy stance.

The Moodys’ report stated that the economy is expected to maintain a positive momentum into 2014 and forecasted growth of 2.9% in 2014, “further picking up to 3.2% in 2015, driven by increased exploration activity and foreign investment in the energy sector, as well as, public infrastructure projects.”

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