Trinidad and Tobago’s Ministry of Finance issued a media release noting that Moody’s has maintained the Government of Trinidad and Tobago’s long-term local and foreign currency issuer and senior unsecured ratings at Ba2, while changing the outlook to Negative. Moody’s affirmation was linked to fiscal buffers including the Heritage and Stabilisation Fund and cash-equivalent assets amounting to 45% of GDP, alongside an expectation of positive oil and gas production developments by 2027. The Negative outlook was attributed to short-term downside risks, particularly a decline in the Central Bank’s liquid foreign exchange reserves as measured under Moody’s methodology, which the ministry noted excludes the Heritage and Stabilisation Fund, as well as gold and Special Drawing Rights; the minister also pointed to a net international investment position surplus of USD 7.5 billion and argued the outlook change did not allow time for recently implemented government strategies to take effect in fiscal 2026. The release also referenced Standard and Poor’s current BBB- investment grade rating for Trinidad and Tobago.
Ministry of Finance (Trinidad & Tobago) 2025-12-12
Trinidad and Tobago Ministry of Finance reports Moody’s affirms Ba2 government rating while revising the outlook to Negative
Moody's affirmed Trinidad and Tobago's long-term local and foreign currency issuer and senior unsecured ratings at Ba2, revising the outlook to Negative. This reflects fiscal buffers like the Heritage and Stabilisation Fund, while the Negative outlook is due to short-term risks, including declining liquid foreign exchange reserves. The Ministry of Finance highlighted a net international investment position surplus of USD 7.5 billion and noted the outlook change does not account for recent government strategies.