The international rating agency Moody's has left the rating of the government bonds and the issuer of Azerbaijan unchanged at the Baa3 level with a stable outlook.
This Moody's rating is due to several factors. Experts have identified the fiscal stability of Azerbaijan, which is supported by the oil fund assets, as one of the factors. The agency expects that "the ratio of government debt to GDP in 2016 will be lower than 25%." In addition, the country has a low unemployment rate.
The Moody's analysts believe that in a situation where oil prices don't fall further, Azerbaijan will retain its financial stability and creditworthiness.
