S&P publishes first post-merger rating of Azerbaijan Business Development Fund

S&P Global Ratings has affirmed the long-term and short-term credit ratings of the Azerbaijan Business Development Fund (ABDF) at 'BB/B' with a stable outlook, Report informs.

"We affirmed our 'BB/B' ratings on Azerbaijan Business Development Fund (ABDF) with a stable outlook, reflecting our view that it is progressing with the operational integration of the Entrepreneurship Development Fund and Azerbaijan Investment Company, which merged in 2025 to become ABDF. The fund is also developing its medium-term strategy, and the formation of the combined entity's management board was finalized at year-end 2025. We expect ABDF to publish consolidated audited financials under IFRS for 2025 in June 2026," reads the message. "The stable outlook reflects our expectation that over the next 12 months, the merged entities will progress with their operational integration, and ABDF will maintain its very strong capitalization and contained risk appetite."