Fitch Ratings says Azerbaijan Outlooks for the long-term IDRs stable

On 29 Feb, Fitch Ratings affirmed the Republic of Azerbaijan’s Long-term foreign and local currency Issuer Default ratings (IDR) at ‘BB+’, Short-term foreign currency IDR at ‘B’ and Country Ceiling at ‘BB+’, the Agency’s statement says. The Outlooks for the Long-term IDRs are Stable. “Azerbaijan’s rating is supported by strong and sustainable economic growth, low government and external debt ratios and a large current account surplus, underpinned by rapidly rising oil and gas production,” says Eral Yilmaz, Associate Director in Fitch’s Emerging Europe sovereigns group.

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