Fitch from bottom to “junk” credit rating of Azerbaijan – BBC

27.02.2016 <- - include virtual = "/ nm2015 / ssi / news / bulka.shtml"!> | 04:13

The international rating agency Fitch Ratings has taken decision to lower the credit rating of Azerbaijan from BBB- to “junk» BB +, transfers . Bloomberg

«Low oil prices have caused a significant deterioration in the financial situation of the country”, -. noted analysts of the agency

According to them, the decision to downgrade affected by the inability of the authorities to adjust the income and expenses on a background of a lower oil price environment that could trigger further negative rating action.

Agency officials also predicted decline in GDP of Azerbaijan by 3.3% in 2016.

Previous reported that the Ministry of Finance of Azerbaijan does not agree with a reduction in S & amp;. P the country’s rating to “junk»

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