Fitch confirms the rating of SOCAR at ‘BBB – ’with stable forecast

Fitch confirms the long-term rating of SOCAR at ‘BBB – ’with stable forecast. The short-term issuer default rating is at F3, and the chief unsecured rating is at ‘BBB –– ’. The company’s ratings are brought to correspondence with the sovereign rating of Azerbaijan of BBB –/ Stable because the company acts in favor of the state in the strategy important oil and gas industries. SOCAR maintains tough communication with the Government and the state oil fund of Azerbaijan for admission of financial and investment decisions.