Opposition Leader: Serious implications for T&T economy with S&P downgrade

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    Opposition leader Kamla Persad Bissessar says Standard & Poor’s downgrade of T&T’s credit rating has serious implications for the economy.

    S&P lowered its long-term foreign and local currency sovereign ratings from BBB+ to BBB, based on projections of lower than expected energy production and economic growth.

    According to Mrs Persad Bissessar, this will not only severely affect the country’s ability to attract foreign direct investment but its banking sector as well.

    She is also worried that there is now a danger that Trinidad and Tobago may be in a downward spiral towards “speculative or junk rating status”.