Sunday 10, August 2008 by
Moody's changes outlook to positive on Azerbaijan's Ba1 rating
Moody's said it has changed its outlook to positive from stable on Azerbaijan's Ba1 issuer ratings for foreign- and local-currency government debt, taking into account the low government debt and the country's excellent medium- to long-term fiscal and external prospects. It said large projected surpluses on the consolidated budget position and the balance of payments would reflect windfall profits from the rapid expansion of oil and gas production and exports in the context of high prices.
