Bank Of Baku

“Fitch” affirms SOCAR’s rating at “BBB-” grade

“Fitch” affirms SOCAR’s rating at “BBB-” grade
# 19 May 2011 09:23 (UTC +04:00)
According to Fitch Ratings, this step was taken by the agency in accordance with the decision on Azerbaijan sovereign rating on May 17.

Agency says SOCAR continues to get advantages from strong relations to states. SOCAR received debt from IBA with state guarantee: “Being of forecast on company’s rating lower than the forecast on country’s ratings is more advisable”.
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