BAKU, Azerbaijan, Dec. 23
By Zeyni Jafarov - Trend:
The Fitch Ratings international agency has affirmed the long-term issuer default ratings in local and foreign currency of the Azerbaijan Mortgage and Credit Guarantee Fund (ICGF) at ‘BB+’, Trend reports citing the Fitch Ratings.
The rating forecast was ‘negative’.
The approval and forecast of the rating at this level means the equality of the rating and the forecast of the Azerbaijan Mortgage and Credit Guarantee Fund. Therefore, further changes or forecasting of Azerbaijan's rating will have a direct impact on the fund,” Fitch said.
The Azerbaijan Mortgage and Credit Guarantee Fund has a 50-point account, which leads to the equalization of its rating in Azerbaijan, regardless of the fund's credit profile.
The agency also rated the indicator for ‘ownership and control’ at a ‘very strong’ level.
Earlier, Deputy Chairman of the Board of the Mortgage and Credit Guarantee Fund of Azerbaijan, Rahman Hummatov, said that the fund hadn’t recorded any losses during its existence.