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Thursday, 02 March 2017 19:00

S&P: Azerenerji would face difficulties in servicing its debt

S&P: Azerenerji would face difficulties in servicing its debt

“We assume that without ongoing and extraordinary state support, Azerenerji would face difficulties in servicing its debt because of high leverage and unsustainable capital structure, so we consequently continue to assess its stand-alone credit profile (SACP) at 'ccc+'”, runs the S&P’s statement.

“There's a wide gap between our sovereign ratings on Azerbaijan (BB+/Negative/B) and our 'ccc+' SACP on Azerenerji because we see potential uncertainty around the government's specific steps to support to the company in the longer term. Although the government provides financial aid to cover the company's ongoing debt payments, we don't see a strategy aiming for substantial improvements at company level, Caspian Energy News (www.caspianenergy.net) reports with reference to the official website of Standard&Poor’s.

More details: https://www.standardandpoors.com/en_US/web/guest/article/-/view/type/HTML/id/1807195

Person in charge of the newsline: Jeyhun Bayramov

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