S&P Global Ratings revised on Friday 22 January 2021 Azerbaijan’s sovereign credit rating outlook to stable from negative and affirmed the debt grade at BB+, citing as main trigger behind the revision the S&P’s expectation that the ceasefire agreement between Azerbaijan, Armenia, and Russia will broadly hold, underpinning a reduction in war-related security, financial sector, and balance-of-payments risks. Moody's credit rating for Azerbaijan was last set at Ba2 with stable outlook. Fitch's credit rating for Azerbaijan was last reported at BB+ with negative outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Azerbaijan thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Azerbaijan as reported by major credit rating agencies.

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