S&P upgrades Azerbaijani bank’s rating
Baku, Azerbaijan, May 1
By Azad Hasanli – Trend:
Standard & Poor's (S&P) Global Ratings raised its short-term issuer credit ratings to 'B' from 'C' on MuganBank OJSC, the ratings agency said in a message.
The upgrade follows the application of the agency’s revised global criteria “Methodology for Linking Long-Term and Short-Term Ratings,” according to the message.
S&P also raised the short-term issue ratings on 21 financial institutions in the Commonwealth of Independent States (CIS) and Cyprus.
MuganBank OJSC was established in 1992. MuganBank also has a representative office in Moscow.