Fitch revises Azerbaijan Mortgage and Credit Guarantee Fund's outlook to stable

Fitch revises Azerbaijan Mortgage and Credit Guarantee Fund
# 28 February 2018 14:40 (UTC +04:00)

Fitch Ratings has revised Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan's (MCGF) Outlook to Stable from Negative while affirming the fund's Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'BB+'.

 

According to the agency, the fund receives steady contributions from the government since its establishment and is supported by the central bank's buy-back guarantee on its bonds. As of end-2017 the cumulative contributions totalled AZN366 million.

 

#
#

THE OPERATION IS BEING PERFORMED