Azerbaijan's Ministry of Finance disagrees with Standard & Poor's rating
The Ministry of Finance of Azerbaijan disagrees with the rating of the international rating agency Standard & Poor's, which was published yesterday, Ministry's website reported.
According to the ministry the report contained a number of inaccuracies.
S & P lowered the long-term and short-term sovereign credit ratings of Azerbaijan in foreign and local currency from "BBB- / A-3" to "BB + / B". The Outlook "Stable".
"Ministry of Finance hopes that Standard & Poor's, which due to lower prices for oil and oil products immediately downgraded the credit rating of Azerbaijan, will show the same efficiency if commodity prices would increase and would restore the investment rating of the country", - the report says.
Azerbaijani Finance Ministry did not agree and regret the decision of the agency.
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