SOCAR makes presentation for Standard & Poor`s
Baku, June 22 (AZERTAC). Azerbaijan`s state oil firm, SOCAR, has made a presentation for Standard & Poor`s financial services company. The presentation is aimed at obtaining a rating from Standard & Poor`s.
SOCAR President Rovnag Abdullayev said the company received ratings from Fitch Ratings and Moody`s in 2009 and 2010 respectively.
"The rating level improves every year," Abdullayev said.
He expressed confidence that after Standard & Poor`s representatives will familiarize themselves with SOCAR`s activity, the company will be given an appropriate rating.
SOCAR and Standard & Poor`s signed a cooperation agreement in November 2010. Following today`s presentation Standard & Poor`s will make its first assessment rating for SOCAR.
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