State Railways Refuse Services of Rating Agencies
The closed joint stock company Azerbaijan Railways has refused to cooperate with the international rating agency Fitch Ratings.
According to Fitch, in this regard, the long-term default rating of the issuer referred to in foreign currency at BBB- has been revoked.
Recall the local railways a month earlier refused services of Standard & Poor`s, which defined the company’s long-term corporate credit rating. Both agencies are skeptical about the government's ability to support the costs of JSC Azerbaijan Railways. --17D-
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