Azerbaijan, Baku / corr. Trend I.Khalilova / Azerbaijan held a presentation of Eurobonds, which are expected to be issued in 2007, in Turkey. The presentation took place within Azerbaijani Finance Minister, Samir Sharifov's visit to Turkey, a Government source states.
The Finance Ministry of Azerbaijan began to issue sovereign Eurobonds after receiving a new rating from Fitch Ratings. The Agency provided a rating to Azerbaijan at the level of BB+, which is lower by one decree than the investment rating. In addition, Azerbaijan has a rating from Moody's Investor Services providing the Country with a rating Ba1 that is lower by one decree than the investment rating.
The Ministry plans to define the company which may assist in organizing issuance of the Eurobonds. International rating agencies - Fitch Raytings, Standard
Banks cooperating with Azerbaijan offer to carry out issue of Eurobonds in three stages. Firstly, it is planned to develop the license, secondly, study conditions in the world markets and thirdly, train specialists working with bonds.
The visit of the Azerbaijani Finance Ministry to Turkey was aimed at attending the annual conference "Current issues of economic management" organized by the Bilkent University in Ankara on 3-4 April. On 5-7 April the Minister will participate in the meeting of Ministers of Economic Co-operation Organization.