Standard and Poor’s watching T&T

The international credit rating agency Standard & Poor’s said it has placed Trinidad and Tobago on credit watch with developing negative implications.



The New York-based major rating agency said the move results from growing uncertainty about the cost of the Patrick Manning administration’s bail out of the CL Financial Group.



Standard & Poor’s said while its considering downgrading the country’s sovereign credit rating, its also scrutinising the ratings of both First Citizens Bank and Republic Bank due to the fall out from the CL Financial bail out.