SOCAR's Baa3 rating affirmed with long-term outlook

Moody's has praised the stability of the State Oil Company of Azerbaijan (SOCAR) economic and financial performance, aligning its rating with Azerbaijan's Baa3 country rating.

Today, Moody's Ratings published a report on the State Oil Company SOCAR, affirming its current Baa3 rating and a stable outlook.

Moody's noted that SOCAR's rating is aligned with the Baa3 country-level rating of the Republic of Azerbaijan, reflecting the close cooperation between the Azerbaijani government and SOCAR, which guarantees state support to SOCAR in the event of force majeure.