Standard & Poor give Azerbaijan negative rating

 

Standard & Poor give Azerbaijan negative ratingThe Standard and Poor's Rating Service has downgraded Azerbaijan to BBB- level from stable. The change is based on the assumption that the country’s economy will be hurt by the substantial drop in oil prices, though government debt levels remain very low.If Azerbaijan does not take necessary measures, its economic positions might weaken. The company is however convinced that the South Stream and the second stage of the Shah Deniz oil field development will ensure further economic development in the country. 

The Standard and Poor's Rating Service has downgraded Azerbaijan to BBB- level from stable. The change is based on the assumption that the country’s economy will be hurt by the substantial drop in oil prices, though government debt levels remain very low.
If Azerbaijan does not take necessary measures, its economic positions might weaken. The company is however convinced that the South Stream and the second stage of the Shah Deniz oil field development will ensure further economic development in the country.