Moody's: Petrotrin outlook negative

Moody's Investors Service said it changed the outlook for Petroleum Co. of Trinidad & Tobago to negative from stable.

The negative outlook reflects Moody's concern that high levels of capital spending over the near-to-medium term could result in a material increase in Petrotrin's financial leverage, particularly given recent declines in oil and gas prices and refining margins. The agency said that in addition, the company is likely to face significant funding requirements in the context of a challenging financing environment.

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