Trinidad & Tobago On Credit Watch (Standard & Poor’s)

The New York-based ratings agency, Standard and Poor’s, has placed highly-rated Trinidad and Tobago on a credit watch with negative implications.

 That’s because it awaits the full extent of the government’s financial liabilities in the bailout of CL Financial, the regional business conglomerate.

The Trinidad government stepped in last week with a bail-out package for the CL group.

The authorities said they took the action because they believed the group’s financial position had worsened as a result of high-risk investments and high leveraging of assets.

Standard and Poor’s said it would review Trinidad’s status once it can estimate the potential fiscal cost to the government, the broader damage to its financial system, and any impairment to the country’s medium-term growth prospects.

Source: BBCCaribbean.com

 

 

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2 Responses to Trinidad & Tobago On Credit Watch (Standard & Poor’s)

  1. Pingback: Global Voices Online » Trinidad & Tobago, Barbados: Credit Rating

  2. Pingback: Auto Industry Bailout » Blog Archive » Trinidad & Tobago on Credit Watch (Standard & Poor’S) « Bajan …

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