S&P confirms Azerbaijan’s long-term credit rating

Azerbaijan’s long-term credit rating: Standard & Poor’s yesterday confirmed Azerbaijan’s BBB-/A-3 long- and short-term sovereign credit ratings and declared the country’s outlook to be stable. The agency projects a modest slowdown in economic growth to about 4% in 2014-2017  – down from 5.8% in 2013 –  due to stagnating oil production, the gradual weakening of oil prices to about $103/barrel in 2015-2016, and decelerating growth rates in the non-oil sector. Trend