12:38 - 7.04.2025

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April 7, Fineko/abc.az. Moody's may raise the credit rating of Azerbaijan, ABC.AZ reports, referring to ING Group, the largest financial corporation in the Netherlands.

ING believes that country's credit base is strong against the background of significant foreign exchange reserves and limited foreign financing needs, even if trade and budget surpluses are expected to weaken. Azerbaijan's ratings are moving towards investment grade (IG): "Last July, Fitch upgraded the rating up to BBB-, and Moody's gave positive outlook. This should ensure that the official ratings are consistent with market estimates and prices. We believe Moody's may upgrade the rating this year, which will give Azerbaijan a second investment grade rating and bring the overall rating up to investment grade."
ING added that the progress towards a peace agreement with Armenia had some positive impact on the markets, but currently the spreads on Azerbaijani bonds no longer look attractive compared to other BBB-rated countries: "It is unlikely that the government will issue a new Eurobond."