Moody’s Investor Service has given a view on the creditworthiness of Azerbaijan.
According to Agency’s statement, Azerbaijan’s government debt is rated Ba1.
"In line with our sovereign rating methodology, the country’s modest per capita GDP, its undiversified economy and a still-evolving institutional framework translate into a low level of economic resiliency. However, given the country’s large oil and gas reserves, Azerbaijan’s medium-term economic growth potential is strong although a lack of economic diversification could hinder growth in the long term if not addressed," the Agency said.
Financial robustness is ranked high, with government debt ratios expected to remain low in the medium term. Azerbaijan runs a relatively large current account surplus, which is expected to have increased by 27.2%.