Trinidad and Tobago Credit Ratings & Outlooks

Country	Moody's	S&P	Fitch	DBRS	Scope Ratings
Trinidad and Tobago	Ba2 Negative	BBB- Negative	NR	NR	NR

Credit Rating History

Country	Date of Change	Rating Agency	Previous Rating	Previous Outlook	Current Rating	Current Outlook
Trinidad and Tobago	Dec 12, 2025	Moody's	Ba2	Stable	Ba2	Negative
Trinidad and Tobago	Sep 25, 2025	S&P	BBB-	Stable	BBB-	Negative
Trinidad and Tobago	Jun 14, 2024	Moody's	Ba2	Positive	Ba2	Stable
Trinidad and Tobago	Jul 10, 2023	Moody's	Ba2	Stable	Ba2	Positive
Trinidad and Tobago	Jul 21, 2022	S&P	BBB-	Negative	BBB-	Stable
Trinidad and Tobago	Nov 19, 2021	Moody's	Ba1	Negative	Ba2	Stable
Trinidad and Tobago	Jul 27, 2021	S&P	BBB-	Stable	BBB-	Negative
Trinidad and Tobago	May 22, 2020	Moody's	Ba1	Stable	Ba1	Negative
Trinidad and Tobago	Mar 26, 2020	S&P	BBB	Stable	BBB-	Stable
Trinidad and Tobago	Jul 09, 2019	S&P	BBB+	Negative	BBB	Stable
Trinidad and Tobago	Apr 28, 2018	S&P	BBB+	Stable	BBB+	Negative
Trinidad and Tobago	Apr 25, 2017	Moody's	Baa3	Negative	Ba1	Stable
Trinidad and Tobago	Apr 21, 2017	S&P	A-	Negative	BBB+	Stable
Trinidad and Tobago	Apr 22, 2016	S&P	A	Negative	A-	Negative
Trinidad and Tobago	Apr 15, 2016	Moody's	Baa2	Negative Watch	Baa3	Negative
Trinidad and Tobago	Mar 04, 2016	Moody's	Baa2	Negative	Baa2	Negative Watch
Trinidad and Tobago	Dec 24, 2015	S&P	A	Stable	A	Negative
Trinidad and Tobago	Apr 30, 2015	Moody's	Baa1	Stable	Baa2	Negative
Trinidad and Tobago	Sep 14, 2009	S&P	A	Negative Watch	A	Stable
Trinidad and Tobago	Feb 03, 2009	S&P	A	Stable	A	Negative Watch

Table Key

Grade	Moody's	S&P	Fitch	DBRS	Scope Ratings
Prime	Aaa	AAA	AAA	AAA	AAA
High Grade	Aa1	AA+	AA+	AA (high)	AA+
	Aa2	AA	AA	AA	AA
	Aa3	AA-	AA-	AA (low)	AA-
Upper Medium Grade	A1	A+	A+	A (high)	A+
	A2	A	A	A	A
	A3	A-	A-	A (low)	A-
Lower Medium Grade	Baa1	BBB+	BBB+	BBB (high)	BBB+
	Baa2	BBB	BBB	BBB	BBB
	Baa3	BBB-	BBB-	BBB (low)	BBB-
Non-investment Grade Speculative	Ba1	BB+	BB+	BB (high)	BB+
	Ba2	BB	BB	BB	BB
	Ba3	BB-	BB-	BB (low)	BB-
Highly Speculative Grade	B1	B+	B+	B (high)	B+
	B2	B	B	B	B
	B3	B-	B-	B (low)	B-
Substantial Risk Grade	Caa1	CCC+	CCC+	CCC
	Caa2	CCC	CCC	CCC	CCC
	Caa3	CCC-	CCC-	CCC
Extremely Speculative Grade	Ca	CC	CC	CCC	CC
Extremely Speculative Grade			C	CCC	C
In Default with Little Prospect for Recovery		CD	RD	RD
In Default		SD		SD
	C	D	D	D	D
			DD	DD
			DDD	DDD
Not Rated	NR	NR	NR	NR	NR

FAQ

What is Trinidad and Tobago’s current credit rating?

Trinidad and Tobago’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Trinidad and Tobago’s credit risk.

Has Trinidad and Tobago’s credit rating changed recently?

This page lists the latest rating and outlook actions for Trinidad and Tobago, showing when each agency last reviewed or changed its assessment.

Why does Trinidad and Tobago’s credit rating matter to investors?

Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Trinidad and Tobago's bond yields, currency, and equity flows as investors reassess risk.

How does Trinidad and Tobago’s rating compare to other countries?

You can explore how Trinidad and Tobago ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.

What do outlooks like Positive, Stable, and Negative mean?

They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk

What is the difference between investment grade and speculative grade?

Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.