Fitch Ratings affirmed Azerbaijan’s sovereign rating
Fitch Ratings, within the process of criteria changes, affirmed Azerbaijan’s rating at BB+ with a negative outlook on July 22, 2016. The next regular review of Azerbaijan’s sovereign rating is scheduled for August 26, 2016.
Fitch revised Azerbaijan’s growth outlook for 2016
Fitch Ratings revised Azerbaijan’s growth forecast for 2016 from -3.3% to -3.0%, while maintaining the 2017 forecast at +1.5%. The agency also lowered the inflation forecast for 2016 from 14.0% to 11.5% and the general government budget balance forecast from -12.5% of GDP to -10.9% of GDP.
S&P affirmed Azerbaijan’s rating, revised outlook from stable to negative
S&P Global Ratings affirmed Azerbaijan’s rating at BB+, while revising the outlook from stable to negative on the back of increased risks related to growth in 2016. The agency also revised Azerbaijan’s growth forecast for 2016 downward from -1.0% to -3.0% and for 2017 from +2.0% to +0.8%.
