Azernews.Az

Azerbaijan's credit rating is rising, according to a recent assessment by US finance and business journal Institutional Investor. Its report entitled 2008 Country Credit Ratings said the South Caucasus republic has edged up three points since March 2007. The country was rated 77th among 174 countries. Azeri rating has climbed steadily, marking a 5.5 point increase in the past year. At a time the ratings of many industrial and developing economies slipped due to the mortgage crisis in world markets, Azerbaijan managed to remain a stable and reliable economy. The United States' rating has fallen 0.3 points, on the scale of zero to 100, in the past six months. Switzerland maintained its top position, with 96.4 points, while Zimbabwe came last with 5.8 points. The global average declined by 0.3 points, to 46.6. The ranking, published by Institutional Investor since 1979, is based on feedback from senior economists and risk analysts.