Fitch confirms Azerbaijan’s rating in previous level

Business Materials 19 December 2005 13:13 (UTC +04:00)

Fitch Ratings, an international raying agency, updated a sovereign rating of Azerbaijan on 14 December. The agency announced the long-term rating of Azerbaijan on liabilities in foreign and national currencies was confirmed as 'BB', while short-term rating was - 'B'.

The agency made stable forecasts on changes in rating. The rating in this level was first announced on 22 November 2004.

Azerbaijan’s rating was updated under the review of ratings of 96 countries (Issuer Default Ratings - IDRs) in connection with the changes in the rates of bonds and rates, though is not the estimation of potential level of default. All updated short-term rating in national and foreign currencies demonstrate the dynamic of long-term ratings.