Azerbaijan's Ministry of Finance disagrees with Standard & Poor's rating

Azerbaijan's Ministry of Finance does not agree with the rating of Standard & Poor's Ratings Services, published yesterday, the ministry's report on its website said.

The report of S&P contained a number of inaccuracies, the ministry said.

S&P lowered the long-term and short-term sovereign credit ratings of Azerbaijan in foreign and local currency from "BBB- / A-3" to "BB + / B". The Outlook "Stable".

"Standard & Poor's has immediately lowered Azerbaijan's credit rating in the light of falling oil and oil products prices. The Ministry of Finance hopes that S&P will show the same efficiency and restore the country's investment rating if commodity prices increases," the ministry's report said.

/By Trend/