BAKU, Azerbaijan, November 25. Fitch Ratings, the leading provider of credit ratings, has affirmed the long-term foreign and local currency credit rating of the Azerbaijani Mortgage and Credit Guarantee Fund at BB+/Positive, Trend reports citing the fund.
According to the fund, the rating confirmation at the 'BB+' level (outlook "positive") is primarily driven by the fund's state ownership, strict control, constant state support for its activities, and the strategic importance of the fund in the country's social and economic policy.
Despite the fund's non-commercial mission, the rating agency emphasized its high financial sustainability, asset quality, and liquidity position.
Fitch believes that regulation and political support will continue to have a positive impact on the fund's performance in the medium term.