Fitch affirms Southern Gas Corridor bonds

Fitch Ratings said it affirmed Southern Gas Corridor CJSC's senior unsecured eurobonds' long-term rating at BB+.

The agency said the affirmation reflects Fitch's unchanged view on the $2 billion eurobonds maturing in 2026 fully guaranteed by Azerbaijan (BB+/stable).

“The rating reflects the unconditional, unsubordinated and irrevocable guarantee of full and timely repayment provided to noteholders by the Azerbaijan government,” Fitch said in a news release.

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