"Fitch" approves rating of Azerbaijan

"Fitch" approves rating of Azerbaijan
  • Clock-gray 15:43
  • calendar-gray 20 January 2020

"Fitch Ratings" international agency has approved Azerbaijan’s long-term default rating in foreign currency at "BB+" level, "APA-Economics" reports citing the agency.

This forecast is stable and together with the country’s strong external balance reflects the low public debt.

Besides, the "BB+" rating is indicative of strong dependence of the economy on hydrocarbons and continuous weakening of the banking sector.

Mirsaid İbrahimzade

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