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Fitch Downgrades Azerbaijan Mortgage Fund to 'BB+'

Fitch Downgrades Azerbaijan Mortgage Fund to

03 March 2016 11:08 (UTC +04:00)

The Outlook is Negative. The rating actions follow Fitch's recent downgrade of Azerbaijan's Long-term foreign and local currency IDRs to 'BB+' from 'BBB-'. The Negative Outlook reflects that of the sovereign.

AMF's ratings are equalised with Azerbaijan's sovereign ratings, reflecting the entity's public sector status, its tight control by the sovereign through the central bank and its important role in the government's housing finance policy. A rating change would be triggered by changes to the ratings of the sovereign. Changes to the legal status and public control that would lead to a dilution of control or likelihood of support by the sovereign could result in the ratings being notched down from the sovereign ratings.

Finance

TuranBank conducts beach cleanup campaign on the Caspian coast in cooperation with the Ministry of Ecology and Natural Resources

TuranBank conducts beach cleanup campaign on the Caspian coast in cooperation with the Ministry of Ecology and Natural Resources

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