S&P revises outlook on Azerenergy

S&P revises outlook on Azerenergy
# 05 February 2015 11:23 (UTC +04:00)

Baku. Agshin Rafigoglu - APA-Economics. Standard & Poor's Ratings Services said that it had revised its outlook on Azerbaijan-based vertically integrated electricity utility Azerenergy to negative from stable.

At the same time, it affirmed the 'BBB-' long-term and 'A-3' short-term corporate credit ratings on Azerenergy.

The rating action mirrors that on the sovereign rating. It reflects the view of S&P that the Azerbaijan government's ability to provide support to Azerenergy in a financial stress scenario could weaken, and that a downgrade of Azerbaijan (BBB-/Negative/A-3) would likely result in a downgrade of Azerenergy.

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