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
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