Moody's has made positive outlook on SOCAR

11:42 - 8.04.2021


April 8, Fineko/abc.az. Moody's Investors Service has confirmed the rating of SOCAR (subordinate companies of the enterprise) at the level of ‘Ba2’ for corporate, default and priority unsecured bonds.

ABC.AZ reports that according to the agency, the basic credit rating of the SOCAR is confirmed at the level of ‘b1’.

The company also upgraded SOCAR's rating outlook from ‘Stable’ to ‘Positive’.

Moody's reports that this improvement is linked with the increase in the outlook on Azerbaijan on the ratings. The approval of ratings at this level reflects the high dependence between the state and the company and the high probability of state support in the event of a financial crisis. The agency said that the country's progress within the framework of monetary and macroeconomic policies will support the company's credit profile, gradually improving the operational and macroeconomic environment of SOCAR.

 

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