Fitch has published its outlook on Azerbaijan


May 16, Fineko/abc.az. Fitch Ratings has revised the Outlook on Azerbaijan's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Negative and affirmed the IDR at 'BB+'.

ABC.AZ reports that the Short-Term Issuer Default Rating in foreign and local currency of the country is approved at the level of ‘B’. The strength of the rating was maintained against the background of Covid-19 pandemic and is currently supported by Fitch's new high outlook on oil prices.

The risk that a new wave of Covid-19 or the resumption of the military conflict in Nagorno-Karabakh will negatively affect sovereign financial buffers has decreased since November.