April 21, 2017 / 6:04 PM / 4 months ago

BRIEF-S&P lowers Trinidad and Tobago long-term sovereign credit ratings to BBB+

April 21 (Reuters) - S&P Global Ratings:

* S&P lowers Trinidad and Tobago sovereign credit rating to BBB+ from A-

* Says Republic of Trinidad and Tobago long-term ratings lowered to 'BBB+' on higher debt burden; outlook is stable

* Says affirmed 'A-2' short-term sovereign credit ratings for Trinidad and Tobago; lowered transfer and convertibility assessment for T&T to 'A' from 'AA-'

* Says Trinidad and Tobago's downgrade reflects further deterioration in T&T's debt burden

* Says although T&T government has introduced austerity measures to reduce fiscal imbalances, see budget consolidation slower than initially expected

* Says stable outlook reflects expectation that Trinidad and Tobago's economy will modestly recover in 2017-2020 on higher natural gas prices, production

* Says expect Trinidad and Tobago's economic recovery to be tepid in 2017 and to gradually accelerate in 2018-2020

* Says expect continuity in Trinidad and Tobago economic policies in coming two years, including government's commitment to fiscal consolidation Source text: bit.ly/2ocxwYQ

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