Samir Sharifov: Time to increase Azerbaijan's credit rating to investment level

Azerbaijan's Minister of Finance Samir Sharifov has assessed the Fitch Ratings upgrade of the outlook on Azerbaijan's international credit rating from 'stable' to 'positive' as the right step, albeit belated.

Speaking exclusively to Report, the minister commented on Fitch's October 21 rating action on the affirmation of Azerbaijan's long-term local and foreign currency issuer default rating (IDR) at 'BB+' with a positive outlook.

"We believe that the time has come to increase Azerbaijan's international credit rating to the investment level, as it was before," the minister said.

Sharifov stressed that the decision to improve the rating forecast is the first step, albeit belated: "The Ministry of Finance hopes that other international rating agencies will take a similar step soon."