BAKU, Azerbaijan, Dec. 18
By Zeyni Jafarov - Trend:
The Moody's international rating agency has completed a periodic review of the group of issuers, which includes Azerbaijan, Trend reports citing Moody's.
Azerbaijan’s Ba2 credit rating reflects the country's economic stability at Ba3 and balances the average level of prosperity against the significant impact of hydrocarbons on the economy and high volatility of economic growth.
Azerbaijan's financial stability rating at ‘A2’ is supported by the strong position of the country's government, which means that, despite the debt in foreign currency, the volume of sovereign funds meets all direct government debts and guarantees.
The agency noted that the economic vulnerability of Azerbaijan to possible risks is assessed at the ‘Ba’ level, and this indicator is directly affected by the persisting geopolitical tension with Armenia.
Earlier, Moody's raised the rating of long-term deposits in national and foreign currency of the Azerbaijani bank, Bank of Baku.
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