May 15th, 2026
The National Gas Company of Trinidad and Tobago Limited (NGC) has realigned its external credit rating agency engagements. A critical part of this realignment was the discontinuation of its relationship with Moody’s Investors Service, effective February 26, 2026.
This decision followed a comprehensive review of the Company’s credit rating framework, including the requirements under its existing debt covenants. While these covenants require the maintenance of a minimum of one international credit rating, NGC has historically maintained multiple ratings, having been assessed since 2005 by Moody’s Investors Service, S&P Global Ratings (S&P) and CariCRIS, and more recently adopting a two international agency approach. This review evaluated the continued alignment of that framework with NGC’s evolving financial profile, operating performance, and long-term strategic objectives.
