Bank Of Baku

Fitch downgrades the rating of Azerbaijan

Fitch downgrades the rating of Azerbaijan
# 27 February 2016 03:30 (UTC +04:00)

Baku-APA-ECONOMICS. International rating agency Fitch downgraded the long-term rating of Azerbaijan in local and foreign currency from "BBB-" to "BB +", reads the statement of the agency, APA-economics reports.

 

The rating outlook is "negative"

 

The agency says the low oil prices are the reason.

 

In January, Azerbaijan's rating downgraded to "BBB-" to "BB +" rating

 

In January, Azerbaijan's rating downgraded to "BBB-" to "BB +" by rating agency S&P.

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