BAKU, Azerbaijan, July 27. Azerbaijan’s state oil company SOCAR has commented on Moody’s recent decision regarding the company’s credit rating.
"International rating agency Moody’s has affirmed SOCAR’s long-term credit rating at Baa3 and maintained the outlook at ‘stable’. As a result, SOCAR has successfully retained the investment-grade credit rating it obtained last year. This decision serves as further confirmation of SOCAR’s financial resilience, credit profile and position as a reliable borrower in international capital markets. At the same time, it demonstrates that the company’s long-term financial strategy and discipline, as well as measures implemented to ensure sustainable development, are receiving high recognition at the international level," the statement of SOCAR says.
The company noted that Moody’s assessment identified SOCAR’s strategic role in Azerbaijan’s economy and energy sector, its integrated business model, sound financial indicators and strong credit metrics as key factors supporting the rating.
"The decision was made amid continued volatility in energy markets, driven by uncertainty in the global economy, fluctuations in international financial markets and ongoing geopolitical tensions. Despite such a challenging external environment, the confirmation of SOCAR’s investment-grade credit rating once again demonstrates the company’s stable financial position, effective risk management and long-term development potential. Maintaining an investment-grade credit rating is an important factor contributing to stronger investor confidence in international capital markets, further development of cooperation with financial institutions and expansion of the company’s financing opportunities. It also further strengthens SOCAR’s position as a trusted partner in international capital markets," the company added.
SOCAR said that in recent years it has consistently implemented measures aimed at improving corporate governance mechanisms, enhancing financial reporting and transparency, strengthening its risk management system and maintaining financial sustainability.
"SOCAR received its first-ever investment-grade Baa3 credit rating from Moody’s in 2025. In addition, SOCAR is among the companies receiving high assessments from other international credit rating agencies. The company currently holds a BBB- long-term credit rating with a ‘stable’ outlook from Fitch Ratings and a BB rating with a ‘positive’ outlook from S&P Global Ratings," SOCAR said.
