BAKU, Azerbaijan, Apr.6
By Zeyni Jafarov - Trend:
The international rating agency Moody's confirmed Ba2 level of Azerbaijan's long-term issuer and prioritized unsecured commitments ratings, Trend reports on Apr.6 referring to Moody’s report data on Azerbaijan.
According to the data, this outlook reflects an assessment that governance and especially policy effectiveness are improving, albeit from a low base, which could improve the resilience of the government's credit profile.
As the agency noted, improving the structure of monetary and macroeconomic policies can contribute to stability in the external and banking sectors in the face of possible shocks, while further effective use of significant fiscal buffers will help withstand cyclical spending and limit the deterioration of the government's fiscal and debt performance.
The affirmation of the rating balances Azerbaijan's credit advantage and mitigates both government liquidity and external vulnerability risks. This forecast also reflects internal political stability.
The limits in the national and foreign currencies of the country remain at the level of Baa3 and Ba2, respectively.
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