BAKU, Azerbaijan, April 21
Trend:
Turkmenistan is negotiating with Fitch Ratings to determine the country's investment rating, Minister of foreign Affairs of Turkmenistan Rashid Meredov said at a government meeting, Trend reports with reference to Online newspaper of the Oil and Gas Complex of Turkmenistan.
Meredov noted that this work is carried out within the framework of strengthening cooperation between Turkmenistan and international financial institutions. Certain proposals were made to obtain an investment rating of Turkmenistan.
Fitch Ratings is one of the three largest international rating agencies. These agencies help potential investors determine which country to invest in. Rating agencies analyze the economic situation of countries, calculate investment risks and publish ratings of States.
Fitch Ratings' long-term credit ratings are assigned on an alphabetic scale from AAA to D. They have Investment grade and Non-investment grade. AAA is considered as the best quality companies in the investment class, while BBB is medium class companies, which are satisfactory at the moment. In the speculative class BB is more prone to changes in the economy, and D is considered to be a Default.
There is a law in the legislation of Turkmenistan about foreign investment. In accordance with this law, Turkmenistan aims to attract and effectively use foreign investments in local projects.