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Fitch Ratings Comments that Azerbaijan Outlooks for the Long-Term IDRS as Stable

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Ratings agency Fitch Ratings, on February 29th, 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+”. A default rating is the measure of an agency’s credit risk.

Fitch Ratings said the “Outlooks” for the long-term IDRs are “Stable.”

In a comment, Eral Yilmaz, Associate Director in Fitch’s Emerging Europe sovereigns group, said, “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.”

ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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