Details added (first version posted at 10:21)
Baku, Azerbaijan, Aug. 27
Trend:
Fitch Ratings assumes that Azerbaijan will continue to experience broad social and political stability and there will be no prolonged escalation with Armenia regarding the Nagorno-Karabakh conflict to a level that would affect economic and financial stability, according to the agency’s report posted on its website Aug. 27.
Fitch Ratings has affirmed Azerbaijan's Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) at 'BB+'.
The issue rating on Azerbaijan's senior unsecured Foreign-Currency bond has also been affirmed at 'BB+'. The Country Ceiling has been affirmed at 'BB+'. The Short-Term Foreign- and Local-Currency IDRs have been affirmed at 'B' and the issue rating on Azerbaijan's senior unsecured Short-Term Local-Currency bond has been affirmed at 'B'.