NGC Cuts Ties with Moody’s
The National Gas Company of Trinidad and Tobago Limited has announced a strategic shift in its credit rating approach, ending its relationship with Moody’s Investors Service as of February 26th, 2026.
The company has instead added Fitch Ratings to its list of agencies, while maintaining other existing ratings, in a bid to better align with global best practices.
NGC also noted that Moody’s methodology, particularly its reliance on sovereign linkage, limited recognition of the company’s stand alone performance.
The move follows a comprehensive review of the company’s credit rating framework, which determined that maintaining multiple international ratings was no longer aligned with its evolving financial position and long-term strategy.
NGC says it does not consider Moody’s previous sub-investment grade rating to accurately reflect its current financial strength.
Despite the split, discussions with Moody’s remain open, with the possibility of future re-engagement if there is greater alignment in assessment approaches.
Meanwhile, NGC reports strong financial performance, projecting TT$23.7 billion in revenue and TT$3.3 billion in profit after tax for 2025, its highest profitability in over a decade.
