Fitch Affirms Azerbaijan at 'BB+'

Sat 05 August 2017 10:48 GMT | 14:48 Local Time

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Fitch Ratings has affirmed Azerbaijan's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'BB+' with Negative Outlooks, the agency reported.

The issue rating on Azerbaijan's senior unsecured foreign- and local-currency debt has also been affirmed at 'BB+', according to APA.

Azerbaijan's 'BB+' ratings balance a strong external balance sheet and low government debt. The Negative Outlook reflects continued risks and uncertainty around the macroeconomic and financial sector adjustment currently under way.

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