Rating of Mortgage & Credit Guarantee Fund falls to minimum


December 23, Fineko/abc.az. International rating agency Fitch Ratings has affirmed the long-term Issuer Default Ratings (IDRs) of the Azerbaijan Mortgage & Credit Guarantee Fund in foreign and local currency at the level of BB+.

ABC.AZ reports that the affirmation of the rating and rating forecast at this level means that the rating of the Fund and the rating forecast on Azerbaijan are equal, and it is for this reason that change of the future rating or the rating forecast will have direct impact on the Fund.

AMCGF has 50 points, which, regardless of the profile of Fund’s autonomous creditworthiness, leads to the alignment of its ratings with the sovereign ratings of Azerbaijan. In addition, the agency rated Fund's "ownership and control" indicator at a "very strong" level.