The Azerbaijani Ministry of Finance has expressed disagreement with the Standard & Poor’s credit rating of Azerbaijan.
S & P lowered the long-term and short-term credit ratings of Azerbaijan in foreign and local currency by one point - to BB + / B from BBB- / A-3.
In particular, the agency explained the downgrading to the so-called "junk" with the fact that the decline in oil prices in the world market will affect the macroeconomic stability of Azerbaijan.
"S & P in its rating assessment admitted a number of inaccuracies. Therefore, the Ministry of Finance does not agree with the conclusion of the agency and regrets in this regard," the report says.
At the same time the Ministry of Finance expressed a hope that S & P, which "amid falling prices for oil and oil products immediately downgraded the credit rating of Azerbaijan will show the same efficiency in the case of an increase in commodity prices, restoring the investment rating of the country". -06D-
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