BAKU, Azerbaijan, Sept. 30
By Fakhri Vakilov – Trend:
Uzbekneftegaz has received a “BB-” rating by Fitch Ratings with a “stable” forecast, Trend reports referring to Fitch Ratings.
This is the first rating Uzbeknefteqaz has ever received.
In February 2021, Uzbekneftegaz JSC began work on obtaining an international credit rating from rating agencies for a gradual entry into the international market.
At the same time, on August 10, 2021, a meeting was held between the management of Uzbekneftegaz and analysts of Fitch Ratings to assess the creditworthiness of the company itself.
As a result of the presentation and on the basis of data on the creditworthiness of Uzbekneftegaz JSC, the Fitch Ratings committee assigned a rating (BB-) at the level of Uzbekistan’s sovereign rating (BB- / Stable).
Rating BB - means that this is an investment company and there is a possibility of developing credit risks, but the company can fulfill its financial obligations to investors and creditors.
In addition, Uzbekneftegaz is the first company to receive an international corporate rating at the sovereign level in Uzbekistan.
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