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S&P retains Azerbaijan’s credit ratings

24 July 2021 09:45 (UTC +04:00)

S&P Global Ratings kept unchanged Azerbaijan’s long- and short-term foreign and local currency sovereign credit ratings at 'BB+/B' in its semiannual review. The outlook is stable, APA-Economics reports citing the Agency.
As the agency didn’t publish a research update on Azerbaijan, the key rating drivers or factors stay the same. These include Azerbaijan's strong fiscal and external stock positions, large liquid government assets, projected at an average of about 74% of GDP in 2021-2024 and the ceasefire agreement between Azerbaijan, Armenia which underpins a reduction in war-related security, financial sector, and balance-of-payments risks.