BAKU, Azerbaijan, Feb. 5
By Eldar Janashvili – Trend:
Russian VTB Capital CJSC has indicated Azerbaijan’s sovereign bonds as attractive, Trend reports referring to the Russian media.
According to a review of VTB Capital analysts, sovereign bonds of Azerbaijan are one one of the most attractive among the post-Soviet countries, since the possibility of recovering of their rating up to investment levels, while maintaining the government’s conservative fiscal policy, is quite high.
Azerbaijan and Ukraine have shown the best results in the sovereign debt rating.
In particular, Azerbaijani bonds "AZERBJ 32" with a yield to maturity (YTM) of 3.34 percent and "AZERBJ 24" with 2.57 percent YTM increased by 0.4 and 0.3 percentage points, respectively, dropping in yield by four and seven basis points.
It is considered that the sovereign bonds of Azerbaijan one of the most attractive, believing that while maintaining a conservative fiscal policy in the country, the possibility of recovering of their rating up to investment grade is high, the VTB Capital said.
---
Follow the author on Twitter: @eldarjanashvili