Azerbaijan preparing to create national rating agency
Baku, Azerbaijan, July 16
By Azad Hasanli – Trend:
Preparatory work began in Azerbaijan within the framework of the creation of a national rating agency, the Chamber of Supervision of Financial Markets told Trend.
The issue of creating a national rating agency is reflected in the Strategic Roadmap for the Development of Financial Services. According to the document, the establishment of the agency is envisaged in 2018-2019.
Nowadays there are no national rating agencies in Azerbaijan, therefore local companies have to turn to the services of international organizations, such as Fitch Ratings, Standard & Poor's and others.
The existence of a national agency would make it easier to access such services, especially for medium-sized companies. After all, if a company has a credit rating, which, first of all, speaks about its creditworthiness, it is easier for it to attract investments.
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