Moody's gives Azerbaijan notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to the $1.25 billion 4¾% notes issued by the Republic of Azerbaijan.

The notes were issued at a price of 98.051% of the principal amount and will mature on March 18, 2024.

The outlook on the issuer rating is stable.

Moody's said the bond rating matches the sovereign bond rating by the Republic of Azerbaijan, which was upgraded to Baa3 from Ba1 in April 2012.

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