Fitch lowered the credit rating of Azerbaijan to “junk» BB + – TVNZ

On the night of Saturday, February 27, the international rating agency Fitch downgraded the credit rating of Azerbaijan from BBB- to “junk” level of BB +, outlook negative rating, the agency reports . Bloomderg

«Low oil prices have caused a significant deterioration in the financial situation in the country” – note, Fitch analysts

in addition, the agency experts predict the reduction of GDP of Azerbaijan in 2016 to 3,3%

Earlier, in late January, another rating agency – Standard & amp.; Poor’s – also downgraded the rating of Azerbaijan from «BBB-» to «BB +», but Ministry of Finance with the decision of the country did not agree

.