Fitch affirms SOCAR at ‘BB ‘, Outlook Positive

Fitch Ratings has affirmed State Oil Company of the Azerbaijan Republic’s (SOCAR) Long-Term Issuer Default Rating (IDR) and senior unsecured rating at ‘BB+’. The Outlook remains Positive, Report informs, citing the rating agency’s website.

“We have revised our assessment of SOCAR’s Standalone Credit Profile (SCP) to ‘bb-‘ from ‘b+’ in light of its stronger financial profile,” reads the report.

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