In a release issued by the Caribbean Information and Credit Rating Services Limited (CariCRIS), the agency has reaffirmed the credit ratings assigned to The National Gas Company of Trinidad and Tobago Limited (NGC) of CariAA (foreign and local currency) on the regional rating scale, and ttAA (foreign and local currency) on the Trinidad and Tobago national rating scale. This rating indicates a high level of creditworthiness, according to CariCRIS.
The agency has also assigned a “stable” outlook on the ratings, explaining: “The stable outlook is premised on the high likelihood that revenues and profits will remain healthy over the next 12–15 months, following a rebound in financial performance reported for the 9-month period to September 2024. This is underpinned by the expectation of higher energy prices and NGC’s ongoing drive to further diversify its upstream operations while bolstering its position in the midstream and downstream sectors.”
