International Rating Agency, Fitch Ratings today announced on presenting a credit rating at the level of BB+ to Azerbaijan, Trend reports quoting a message being spread by the Azerbaijan Finance Ministry today.
The above-mentioned rating is at the same level with the one which was presented to the country by another agency, Moody`s in 2006 вЂ" at the level of Ba1 on the previous period, however it differs from the investment credit rating by just one level. The message says that if taking into consideration that in 2006, Fitch Ratings presented the rating at the level of BB to Azerbaijan, then the existing credit is a serious success to the country. Fitch Ratings has increased the rating of default in foreign and national currencies from BB to BB+. In accordance with both indicators, the economic perspective was estimated as stable. According to the rating, the highest limit of the credit rating for the country is BB+.
While estimating the country, a number of economic parameters and showings in the county were taken as basis вЂ" the political stability, stable and dynamic growth rate of GDP, level of the state foreign (external) and domestic (internal) debts, surplus in the existing accounts on foreign operations, high liquidity, stable monetary policy, oil revenues gained from the implementation of the oil strategy and adoption of the long-term policy to govern them, ensuring transparency of budget expenditures, reduction of the level of poverty, implementation of large-scale projects in particular. The increase in the rating of the country along with strengthening the trust of the international financial society to the country will increase the solvency of the country; create conditions for issuing securities to be borrowed by the Government and large-scale companies in international financial markets. All that will make the access of Azerbaijan to the international capital market easier.