Moody’s upgraded rating of Azerbaijan

Moody’s upgraded rating of Azerbaijan Moody’s Investors Service has today upgraded Azerbaijan’s foreign- and local-currency government issuer ratings by one notch to Baa3 from Ba1. The rating outlook is now stable, APA reports. The main drivers of this rating action were: (i) the ongoing strengthening in the government’s finances, as reflected in the rapid accumulation of foreign assets by the State Oil Fund of Azerbaijan (SOFAZ) and the... Read More