Fitch rates Azerenerji BBB-

Fitch Ratings said it assigned a long-term foreign-currency issuer default rating of BBB- to OJSC Azerenerji, along with a short-term foreign-currency issuer default rating of F3.

The outlook is positive.

The ratings are aligned with the Republic of Azerbaijan, reflecting strong legal, strategic and operational ties with the government of Azerbaijan, Fitch said.

Azerenerji's virtual monopoly in Azerbaijan's electricity generation market, considerable position in the distribution segment and monopoly in the transmission segment demonstrate the company's critical importance to Azerbaijan's economy, the agency said.

Strong links with the government also are evident through the significant direct financial support historically received from the company's owner, Fitch added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.