Fitch confirmed Azerbaijan’s rates at the level of BB+

Fitch Agency reported that it retained the long-term default ratings of the issuer of Azerbaijan in national and foreign currencies at the level of BB+. Its ratings forecast stayed stable too. A low level of the state debt, strong dependence of the Azerbaijan’s economy on hydrocarbons and a weakness of the banking sector were mentioned among the risks. Non-performing loans in the banking sector were 12,7% while their share reduced only by 1% from the beginning of the year. The agency expects this year Azerbaijan economy will rise by 3,7% and next year its growth will slow down to 3,5%. The increase of gas production and slowdown in spending will become a support of a budget surplus as the experts expect.


The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong