OECD raised Azerbaijan's credit rating to IV level
Organization of Economic Cooperation and Development (OECD) reduced the risk on Azerbaijans middle-term and long-tem credits to 5. Trendreports with reference to press release of the Ministry of Economic Development, this decision was made at June session of export credit agencies within OECD in Paris.
At the moment Azerbaijans risk level equals that of Turkey. Due to reduction of credit risks, Azeri businessmen may obtain credit links in financial institutions of OECD countries on more affordable terms. This, in turn, will reflect the countrys image on the international arena and confirm trust in Azerbaijan.
The country was included in OECDs rating schedule in 1996 and had rating 6 from 2001 to date. The Ministry of Economic Development did its best to had OECD revise the rating.