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BRIEF-S&P revises Azerbaijan sovereign credit outlook to negative
July 29, 2016 / 4:20 PM / a year ago

BRIEF-S&P revises Azerbaijan sovereign credit outlook to negative

July 29 (Reuters) - S&P Global Ratings

* s&p revises azerbaijan sovereign credit outlook to negative from stable

* Azerbaijan outlook revised to negative on weak economy and policy challenges; ‘bb+/b’ ratings affirmed

* Outlook revision primarily reflects what we see as risks of azerbaijan’s weak economic performance becoming more persistent

* Now expect the economy will contract by 3% in 2016 before recovering to about 3% economic growth after 2017

* Our ratings on azerbaijan remain constrained by the limited effectiveness of its monetary policy Source text (bit.ly/2aCFQKZ) (Bengaluru Newsroom; +1 646 223 8780; )

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