NGC AA+ rating reaffirmed

THE NATIONAL Gas Company (NGC) has had its AA+ rating reaffirmed by the Caribbean Information and Credit Rating Services (CariCRIS) with a stable outlook.

NGC in an advertisement today said the rating is based on “more favourable prospects in the gas industry arising from improved gas production which should boost NGC’s financial performance in 2019 and beyond.”

NGC said the company is the prime mover for TT’s natural gas sector with ongoing and anticipated upstream projects that support increased gas production alongside greater financial performances and profitability.

“NGC continues to play a crucial role in the development of the country through the growth of TT’s natural gas industry. In addition to its core mandate, NGC has over the years expanded its business activities which continue to contribute significantly to the natural gas value chain.”

An AA+ rating signifies strong financial backing and cash reserves. It is the second highest credit rating with AAA the highest.