NGC holds its Ba1 rating

Credit rating agency Moody’s has announced that the National Gas Company of T&T will maintain a Ba1 rating for 2018.

Moody’s noted that the rating is indicative of the Company’s current profitability and management considering its role within the local oil and gas industry.

The agency also noted that the rating “reflects our view that the company’s credit-worthiness will remain solid in the foreseeable future.”

In addition, it identified that NGC has a long track record as a profitable and conservatively managed company. It was also noted that NGC’s strengths include:              

·         Strong balance sheet;

·         Solid operating margins and cash flow generation;

·         Conservative financial management;

·         High level of government support.