Fitch Ratings confirmed long-term rating of Mortgage & Credit Guarantee Fund at BB+


February 27, Fineko/abc.az. Fitch Ratings Agency conducted regular assessment of the Mortgage & Credit Guarantee Fund of Azerbaijan.

ABC.AZ was informed at the Fund that according to Agency’s estimate, Fund's long-term default rating in foreign and local currencies is confirmed at BB+ (forecast ‘Stable’).

The approval of the rating at the level of ‘BB+’ (forecast ‘Stable’) reflects Fitch's unchanged position on the strong relationship between the state and the Fund. According to Agency's "Rating criteria for government-related institutions", Fitch highly values the state's support for the Fund. Given the strong ties between the States and the Fund and the state's support for the Fund, Fitch has determined that the Fund's rating is equal to the country's sovereign rating.

The legal status and governance were rated as very strong. The Fund is a non-commercial public legal entity and is owned by the state.