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Moody's improves Azerbaijan’s fiscal strength rating

21 May 2021 11:23 (UTC +04:00)

Moody's Investors Service ("Moody's") has revised the Azerbaijani government’s fiscal strength to "a1" from "a2", APA-Economics reports citing the Agency.
According to the credit firm, the government's "a1" fiscal strength underpinned by the country's strong net creditor position, as the size of sovereign wealth assets covers all of the government's direct debt and guarantees, notwithstanding the high share of a foreign currency debt.
Note that on April 6 Moody's changed the outlook on Azerbaijan's rating to positive from stable and affirmed the long-term issuer and senior unsecured debt ratings at Ba2.