International rating agency Moody Investors Service assigned today a provisional (P)Ba1 rating to the approximately $1.0 billion worth of bond issued by the State Oil Company of the Azerbaijan Republic (SOCAR).
The outlook on the rating is stable, the agency reported on its website today.
The SOCAR will use the funds earned during the bonds' sale in order to finance its ongoing project and pay debts.
Moody's assigns rating to SOCAR's notes
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