Azerbaijan’s Finance Ministry welcomes Fitch’s upgrade of country’s rating to BBB- with stable outlook

Azerbaijan’s Ministry of Finance said it welcomes Fitch Ratings’ upgrade of the country’s long-term foreign currency issuer default rating to BBB- from BB+ with a stable outlook, Report informs.

According to the ministry, the rating upgrade is a manifestation of international recognition of the country’s macroeconomic and monetary policy, institutional reforms, improvement of the investment environment, low government debt, especially low level of external public debt, and other consistent and multifaceted reforms implemented by the Government of Azerbaijan under the leadership of President Ilham Aliyev.

The upgraded report of the Fitch Ratings agency is available at the following link.