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S&P upgrades SOCAR to `BB+`

29 December 2011 12:45 (UTC+04:00)
S&P upgrades SOCAR to `BB+`

Standard & Poor's Ratings Services said on Wednesday that it had raised its rating on State Oil Company of Azerbaijan Republic (SOCAR) to 'BB+' from 'BB'. The outlook is stable.

"We upgraded SOCAR because we upgraded the Republic of Azerbaijan (BBB-/Stable/A-3)."

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