S&P Global Ratings announces a forecast on Azerbaijan

11:59 - 25.07.2022


July 25, Fineko/abc.az. International rating agency S&P Global Ratings has confirmed the long-term and short-term sovereign credit ratings of Azerbaijan in foreign and national currency at ‘BB+/B’.

ABC.AZ reports that the rating forecast is set at ‘Stable’.

The Stable forecast reflects Agency's expectations that favorable prices for hydrocarbons and growing gas exports will support Azerbaijan's financial position and balance of payments in 2022-2023, as well as that the negative consequences of the situation in Ukraine for Azerbaijan will remain limited.

The Agency noted that the ratings may decrease if oil production declines faster than expected as the deposits exhaust. It was noted that if the government continues reforms to eliminate some structural barriers, then, on the contrary, the rating may increase.

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