Moodys	Current	Standard and Poors	Current
Foreign Currency Government Bonds	Baa3-Negative	Local Currency Short Term	A-2
Local Currency Government Bonds	Baa1-Negative	Local Currency Long Term	A-
Foreign Currency Ceilings for Long-term Bonds and Notes	Baa2-Negative	Foreign Currency Short Term	A-2
Foreign Currency Ceilings for Short-term Bonds and Notes	P-3-Negative	Foreign Currency Long Term	A-
Foreign Currency Ceilings for Long-term Bank Deposits	Baa3-Negative
Foreign Currency Ceilings for Short-term Bank Deposits	P-3-Negative

a. Indicate the credit ratings of Trinidad and Tobagos long-term local currency bonds at the time of issue (by both major credit ratings agencies).

b. What do each of these issuers ratings indicate about the Governments ability to repay the bond and its associated interest payments?

c. Based on the above, is this bond considered an Investment Quality or Low-Quality/Junk Bond? 6 Marks