S&P, the international rating agency, has confirmed Trinidad and Tobago's credit rating at BBB-, and brought its outlook from negative to stable.
According to a statement issued by the Trinidad and Tobago's Ministry of Finance, this new rating is "an Investment Grade rating reflective of the credit strength of the country".
The Guardian said the Finance Ministry notes that the "stable" outlook comes "in light of the recent and prospective developments in the economy and its resiliency against multiple shocks."
Minister of Finance, Colm Imbert MP, views the development as positive.
Minister Imbert said in the Finance Ministry statement that "this is the first time over the last 15 years that S&P takes a positive action on Trinidad and Tobago."
He said Trinidad and Tobago is a safe harbour for investors.
Minister Imbert says he is confident of more upgrades to come to T&T rating status.
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