Baku 7° C
Fitch affirms Southern Gas Corridor CJSC's raiting
Finance
- 17 March, 2017
- 06:23
Baku. 17 March. REPORT.AZ/ Fitch Ratings has affirmed Southern Gas Corridor CJSC's (SGC) senior unsecured Eurobonds' Long-Term foreign currency rating at 'BB+'.
The affirmation reflects Fitch's unchanged view on SGC's $2 billion Eurobonds maturing in 2026 fully guaranteed by the Republic of Azerbaijan (BB+/Negative).
In March 2017 SGC placed a tap issue of $1 billion (with 5.8% income rate), which are to be consolidated and form a single series with the initial $1 billion 6.875% Guaranteed Notes due 2026 issued on March 24, 2016.
Notably, the entity is tightly controlled by Azerbaijan, i.e. it ultimately owns 100% in SGC via 51% stake held by the Ministry of Economy and 49% stake held by the State Oil Company of Azerbaijan Republic.
Author
Latest News
00:03
Saudi Aramco in talks to buy Ukrainian drones to protect oil fields
Other countries23:59
Anar Guliyev, Anacláudia Rossbach mull joint projects in Karabakh and East Zangazur
Infrastructure23:53
US shifts air defense systems from Europe to Middle East amid Iran conflict
Other countries23:52
American expert adds Ilham Aliyev to list of top impactful leaders
Foreign policy23:36
Photo
Azerbaijan's achievements in women's rights, digital development presented at UN
Foreign policy23:34
Military camp in southern Baghdad comes under attack
Other countries23:24
FM Ignazio Cassis thanks Azerbaijan for evacuation of Swiss citizens from Iran
Foreign policy23:13
Narendra Modi and Masoud Pezeshkian mull 'the serious situation in the region'
Region23:12