Jun 2023 Financial News

Fitch Affirms Trinidad Generation Unlimited's Senior Unsecured Notes at 'BB'

Jun 14, 2023

Fitch Ratings - New York - 14 Jun 2023: Fitch Ratings has affirmed Trinidad Generation Unlimited's (TGU) senior unsecured notes due 2027 at 'BB'. The Rating Outlook is Stable.

The rating reflects TGU's importance to Trinidad and Tobago's energy matrix and operational integration with its ultimate parent, the country's government. TGU's generation capacity is fully contracted under a long-term power purchase agreement (PPA) with state-owned Trinidad and Tobago Electricity Commission (T&TEC), with payments under the PPA in turn guaranteed by the government.

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Source:
Fitch Solutions