10:42 - 20.08.2025

---

 August 20, Fineko/abc.az. The peace framework agreement between Armenia (BB-/Stable) and Azerbaijan (BBB-/Stable) is a positive step towards a comprehensive deal and reduces the risk of renewed hostilities, although obstacles remain, Fitch Ratings says, APA reports.

Achieving a peace agreement is unlikely to immediately affect either country’s ratings, but could support positive medium-term credit trends, notably via expanded trade that may boost growth, although this is difficult to quantify.

The joint declaration, mediated by the US and signed in Washington on 8 August, commits both countries to adopt Soviet-era borders, renounce the use of armed force, and envisages “unimpeded connectivity” between Azerbaijan and its exclave of Nakhchivan through Armenian territory.