Fitch upgrades Southern Gas Corridor CJSC's Eurobond's rating

Fitch has upgraded Southern Gas Corridor CJSC's (SGC) senior unsecured Eurobond's long-term foreign-currency rating to 'BBB-' from 'BB+', Report informs referring to the rating agency.

The rating of SGC's $2 billion Eurobonds maturing in 2026 reflects the unconditional, unsubordinated and irrevocable guarantee of full and timely repayment provided to SGC's noteholders by the state. As a result, Fitch views the notes' rating as equalised with Azerbaijan's Long-Term Foreign-Currency IDR.