The international rating agency Moody's Investors Service has retained the same long-term rating of OJSC Khalg Bank for obligations at the level B2, a "negative".
Moody's also affirmed the assessment of counterparty risk at the level of B1 (cr) / Not Prime (cr).
The forecast was changed from stable to negative on long-term deposit ratings of OJSC Khalg Bank in January 2016. At the end of 2015 OJSC Khalg Bank had 50% of its loans in foreign currency, and the 20 largest borrowers accounted for more than 400% of the capital of the first order. However, at the beginning of 2016 the bank had sufficient capital of the first order and total capital at 22.2% and 23%, respectively. -0-
Economics
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Fitch Ratings has upgraded Azerbaijan’s long-term foreign currency issuer default rating (IDR) from “BB+” to “BBB-,” signifying an investment-grade status with a stable outlook. Despite this positive move, the agency highlighted several economic hurdles that could impact the country's progress.
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The number of overnight stays in hotels and hotel facilities in Azerbaijan surged by 35.8% in the first half of 2024 compared to the same period in 2023, reaching 1.851 million, according to the State Statistics Committee of Azerbaijan.
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Azerbaijan will unveil a unified electronic portal for real estate early next year, according to Nigar Alimova, Chairman of the Board of the State Cadastre and Real Estate Register at the State Property Service of the Ministry of Economy.
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AzerGold CJSC’s sorption leaching plant, located at the Chovdar Integrated Regional Processing Site (CHIRUP) in Dashkesan district, has commenced full-scale operations, the Ministry of Economy announced.
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