S&P Global Ratings today assigned its 'BB-/B' long-and short-term issuer credit ratings to Entrepreneurship Development Fund Of The Republic Of Azerbaijan (EDF), APA-Economics reports citing the information of the Agency.
The outlook is stable.
"The stable outlook on EDF over the next 12 months mirrors that on Azerbaijan and reflects our expectation that the merger with AIC will not materially strengthen or weaken EDF's SACP. The government closely oversees the activities of EDF. EDF carries an important public policy role in the sustainable development of entrepreneurship in the countryside (not the capital of Baku) by carrying out funding mechanisms and awareness-raising activities. It provides loans at lower rates than from commercial banks to farmers and other individual entrepreneurs," noted in the information.