Fitch affirms SOCAR’s rating at BB+, prognosis negative

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# 07:30
24 February 2017

Fitch Ratings has affirmed State Oil Company of the Azerbaijan Republic's (SOCAR) Long-Term Issuer Default Rating (IDR) at 'BB+', Short-Term IDR at 'B' and senior unsecured rating at 'BB+'. The Outlook on the Long-Term IDR is Negative, the international rating agency said in a press release.

 

According to the information, SOCAR’s ratings are relevant to the sovereign rating of Azerbaijan and that it has close ties with the government and the State Oil Fund of the Republic of Azerbaijan (SOFAZ) in financial and investment decision-making.

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THE OPERATION IS BEING PERFORMED