INT`L COMPANY GRANTS HIGH RATING TO SOCAR
Baku, February 23 (AZERTAC). International Company Moody’s has granted the Ba1/Stable rating to the State Oil Company of Azerbaijan, the Company`s press service said.
Along with the effective operation of oil and gas fields in the country, SOCAR actively cooperates with the international financial institutes, also partakes in the implementation of large-scale projects, and is known as a reliable partner of the international banks. This raises the international rating of the Company and its status.
Not casually, in October of the last year SOCAR was granted the rating BB+/Stable for the first time by “Fitch Ratings”, which is considered one of the authoritative world rating companies. Meanwhile, last year SOCAR also signed a contract with Moody’s for getting an additional status.
The assessment committee of the Company granted rating Ba1/Stable to SOCAR on transparency of corporate employee and possible default. The report prepared on this issue says that SOCAR is a basis of Azerbaijan’s economy which is completely state-owned.
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