BAKU, Azerbaijan, May 21
By Zeyni Jafarov - Trend:
The Fitch Ratings international rating agency has confirmed the long-term rating of the Mortgage and Credit Guarantee Fund of Azerbaijan in foreign and local currencies at ‘BB+/stable’, Trend reports citing the fund.
Fitch Ratings conducted another assessment of the fund's activities and appreciating its connection with the state and strong state support, determined the fund's rating is equal to the country's sovereign rating.
The agency has been evaluating the fund's activities since 2009 and publishing its independent credit rating.
Earlier, Fitch Ratings revised the forecast on Azerbaijan's long-term issuer default rating (IDR) in foreign currency from ‘negative’ to ‘stable’ at the level of ‘BB+’.
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