Fitch affirms SOCAR rating
International rating agency Fitch Ratings has affirmed Azerbaijani state oil company SOCAR's Long-term foreign currency IDR at 'BBB-' with a Stable Outlook.
Short-term foreign currency IDR was affirmed at 'F3', the agency said in its report.
SOCAR is the only producer of oil products in the country and owns two refineries, and also runs gas stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland. SOCAR is co-owner of the largest Turkish petrochemical complex, Petkim.
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