“Fitch Ratings” confirms Azerbaijani MCGF’s rating at “BB+/Stable” level

“Fitch Ratings” confirms Azerbaijani MCGF’s rating at “BB+/Stable” level
# 26 February 2020 19:22 (UTC +04:00)

The regular assessment of activity of the Mortgage and Credit Guarantee Fund (MCGF, hereinafter Fund) of the Azerbaijan Republic has been conducted by “Fitch Ratings” Agency (hereinafter Agency), "APA-Economics" reports citing the Fund.

Based on the Agency’s assessment, the long-term default rating of the Fund in foreign and local currency has been confirmed at “BB+” level (forecast is “stable”). 

The confirmation of the rating at “BB+” level (with “stable” forecast) reflects “Fitch”’s unchanged opinion regarding strong relations between the Azerbaijani Government and the Fund. 

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THE OPERATION IS BEING PERFORMED