S&P Global Ratings: Azerbaijan's int'l credit rating unaffected by oil prices
By Trend
S&P Global Ratings, one of top three international credit rating agencies has issued a report reflecting Azerbaijan's financial stability, Trend reports referring to Azerbaijan's Ministry of Finance.
The report shows that the international credit rating of
Azerbaijan remained stable at "BB +" level.
"Due to the sharp drop in oil prices on world markets, S&P
Global Ratings decided to conduct an extraordinary assessment of
the ratings of oil exporting countries. This assessment was also
carried out for Azerbaijan," the ministry said.
In a report published by the agency, the reaffirmation of
Azerbaijan’s international credit rating and rating outlook was
justified by the fact that the country has significant foreign
exchange reserves, a strong fiscal position (assets), and a low
level of external debt.
Standard and Poor’s agency traditionally carries out an assessment
of Azerbaijan’s credit rating twice a year, in January and July,
and the latest assessment was carried out on January 25 of this
year and published by the agency.
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