S&P affirms Azerbaijan’s credit rating at BB+/B’

Baku. 28 January. REPORT.AZ/ S&P Global Ratings affirmed the long- and short-term foreign and local currency sovereign credit ratings on Azerbaijan at 'BB+/B'. The outlook on the long-term ratings is stable.

With a relatively low oil price outlook, S&P expects moderate economic growth over 2019-2022 and smaller external surpluses: ‘Although materially weaker than 2018, we expect fiscal balances to remain controlled and note the government's strong net asset position’.