Fitch Ratings affirms Azerbaijan's investment rating

Yesterday the international rating agency Fitch Ratings gave Azerbaijan’s long-term rating for domestic and foreign currencies a grade of "BBB-" in investment, with "Positive Outlook," the Azerbaijani Finance Ministry said.

The ministry received a letter from the Associate Director in Fitch Ratings Sovereign group Charles Seville on Sept. 6. The letter reads that Azerbaijan’s rating and outlook remain unchanged.

Earlier, on May 17, Fitch Ratings reaffirmed the long-term rating of Azerbaijan in domestic and foreign currency, ranking "BBB-" in investing, changing its prognosis from "Stable" to "Positive."

Fitch Ratings affirmed "BBB-" for investment to Azerbaijan by the agency on May 20, 2010.


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