Service of credit ratings S&P Global Ratings has confirmed long-term credit rating of SOCAR and Azerenerji, state monopoly generating power, at “BB”, reads web site of the agency.
The forecast of rating of the state companies has been changed from “stable” to “negative.”
The rating of the agency followed confirmation of Azerbaijan’s sovereign rating at “BB+/B.” The agency changes the forecast of Azerbaijan’s rating from “stable” to “negative.”—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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