BAKU, Azerbaijan, July 27
By Eldar Janashvili - Trend:
The international rating agency Moody's confirmed Ba2 level of Azerbaijan's credit rating, Trend reports on July 27 referring to Moody’s report data on Azerbaijan.
According to the data, the sovereign rating of Azerbaijan was confirmed at Ba3 level.
As the agency noted, the credit profile of Azerbaijan (issuer rating Ba2) balances moderate wealth levels against the high volatility growth and the economy's significant exposure to hydrocarbons. Its institutions and governance strength confirmed at “b2” level are balanced against gradually increasing monetary and fiscal policy credibility.
The government's "a2" fiscal strength is underpinned by the country's strong net creditor position, as the size of sovereign wealth assets covers all of the government's direct debt and guarantees, notwithstanding the high share of foreign currency debt.
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