Moody’s could lower NGC

Moody's Investors Service said it placed the rating of National Gas Co. of Trinidad and Tobago (NGC) on review for downgrade.

The action follows Moody's March 4 decision to place Trinidad and Tobago's bond ratings on review for downgrade.

"Moody's rating actions were triggered by its decision on March 4, 2016 to place Trinidad and Tobago's bond ratings on review for downgrade the and by the sharp decline in oil prices that put pressure both on the companies' credit profiles and the finances of the governments, hindering their ability to provide extraordinary support to their companies and heightening risks for creditors," Moody’s senior credit officer Nymia Almeida said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.