Azerbaijan, Baku, Jan. 26 / Trend , N.Ismayilova/
Moody's international rating agency expects new business opportunities in Azerbaijan, the company said in a report.
"We will focus on the CIS in winter 2009," the company told Trend .
In addition to Azerbaijan, Moody's plans to expand into Uzbekistan and Belarus. Most business will continue to be from Russia, the company said, although other CIS nations now host a number of ranked banks.
The company ranks Azerbaijan behind Russia at the top of CIS countries.On the backdrop of the current economic downturn and fears about the risk of investments, Moody's expects market players to be guided by ratings, using them as an indicator of borrowers' integrity.
"We believe in the coming 12 months the stable demand for rating services will be sustained and the number of assigned ratings will grow," the report said. Over 300 CIS issuers have Moody's ratings.
As of Nov. 1, Moody's market share in Russia was 62 percent and 65 percent in the CIS.
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