The long-term credit rating of JSC Azerbaijan Railways, like other state monopolies, has been confirmed by Standard & Poor's at BB+.
According to the agency, the rating outlook changed to "negative" from "stable." According to experts, the rating has been updated after the fall of the sovereign rating of Azerbaijan, because such structures are fully funded by the government. The creditworthiness of the company itself is small, experts of Standard & Poor's say.
On the other hand, the company plays an important role for the government, implementing regional infrastructure projects.
S & P explains the change in outlook for "negative" with the fact that if Azerbaijan does not take preventive measures, the sharp fall in oil prices in the world could lead to a possible weakening of the current fiscal and external position of the country. The revision of the outlook on the company for "stable" is possible in case of change of the outlook on Azerbaijan's sovereign rating for "stable". --17D-
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review