S&P lowers Azerenerji view to negative

Standard & Poor’s said it revised the outlook on Azerenerji to negative from stable.

The agency also said it affirmed the company’s BBB- long-term and A-3 short-term corporate credit ratings.

The outlook revision mirrors that on the sovereign rating, S&P said. It also considers a view that the Azerbaijan government’s ability to provide support to Azerenerji in a financial stress scenario could weaken, the agency said.

Any downgrade of Azerbaijan would likely result in a downgrade of Azerenerji, S&P said.

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