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Fitch affirms Azerbaijan's rating
Finance
- 25 February, 2017
- 07:27
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Baku. 25 February. REPORT.AZ/ Fitch Ratings has affirmed Azerbaijan's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'BB+' with Negative Outlooks.
Report informs citing the agency's press release.
Azerbaijan's 'BB+' ratings balance low government debt, stemming from high oil revenues, with a heavy dependence on hydrocarbons, a weak banking sector.
According to the press release, the negative outlook reflects continued risks and uncertainty around the macroeconomic and financial sector adjustment currently under way.
Author
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