May 28th 2010 - 10:04AM ... Anders Tunold Kråkenes
The international credit rating agency Fitch Ratings has announced that they have upgraded Azerbaijan's sovereign credit ratings. Fitch have upgraded Azerbaijan's long-term foreign and local currency Issuer Default Ratings (IDRs) to 'BBB-' from 'BB+'. The credit rating agency adds that the outlooks on both ratings are stable. Fitch has also upgraded Azerbaijan's Country Ceiling to 'BBB-' from 'BB+' and upgraded its short-term foreign currency IDR to 'F3' from 'B'.In a press release from Fitch, the international credit rating agency states:
