Fitch affirms Azerbaijan at 'BB+'

Fitch affirms Azerbaijan at 'BB+'
  • Clock-gray 10:17
  • calendar-gray 30 July 2018

Fitch Ratings has affirmed Azerbaijan's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB+' with a Stable Outlook.

 

Azerbaijan's 'BB+' ratings balance a strong external balance sheet and low government debt, stemming from accumulated surpluses in times of high oil revenues, with a heavy dependence on hydrocarbons, an underdeveloped and opaque policy framework, and a weak banking sector and governance indicators.

 

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