In 2016 the International Rating Agency Moody’s Investors Service forecast further weakening of the indexes of SOCAR’s solvency, reads the agency’s statement.
“In 2016 Moody’s expects further weakening of indexes of SOCAR’s solvency as a result of low oil prices,” the agency reported.
According to the agency’s estimates, most likely SOCAR’s financial resources will be going down in 2016.
According to the same source, lowering of ratings of Azerbaijani state bonds and issuers to Ba1 and Ba3 and revision of the ratings towards reduction negatively affects SOCAR’s ratings. This is caused by strong ties between SOCAR and the state, which owns 100% shares of the company.
