Moody’s changes Azerbaijan view to positive

Moody’s Investors Service said it changed Azerbaijan’s outlook to positive from stable and affirmed the long-term issuer and senior unsecured debt ratings at Ba2.

“The positive outlook reflects Moody’s assessment that governance and in particular policy effectiveness is improving, albeit from a low base, which may raise the resilience of the government’s credit profile. In particular, enhancements to the monetary and macro policy framework may promote stability in the external and banking sectors in the face of shocks, while continued effective use of sizeable fiscal buffers would allow countercyclical spending and limits the deterioration in the government’s fiscal and debt metrics,” the agency said in a press release.

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