Trinidad's investment risk ratings downgraded

Standard & Poor's has downgraded Trinidad and Tobago’s long-term sovereign ratings — the risk associated with investing in the country — from A- to BBB+.
     
The international ratings agency highlighted the country’s rising debt and the associated interest burden over 2017 to 2020, which jointly constrain the government’s fiscal flexibility to adjust to adverse shocks.
    
S&P has also noted that public finances are in a vulnerable state in light of a prolonged and substantial drop in energy revenues.
    
This according to S&P has resulted in increased borrowing to fund budget deficits and worsening debt-to-GDP ratios.