January 26, 2018 / 10:39 PM / 22 days ago

BRIEF-S&P Says Outlook On Azerbaijan Revised To Stable From Negative

Jan 26 (Reuters) -

* S&P MAINTAINS AZERBAIJAN’S SOVEREIGN CREDIT RATING AT BB+; RAISES OUTLOOK TO STABLE FROM NEGATIVE

* S&P SAYS OUTLOOK ON AZERBAIJAN REVISED TO STABLE FROM NEGATIVE; ‘BB+/B’ RATINGS AFFIRMED

* S&P SAYS AZERBAIJAN‘S FOREIGN EXCHANGE RESERVES ARE INCREASING AS BALANCE OF PAYMENTS PRESSURES ABATE

* S&P SAYS FORECAST THAT THE AZERBAIJAN GOVERNMENT‘S BUDGETARY POSITION WILL RETURN TO SURPLUS THIS YEAR FOR THE FIRST TIME SINCE 2014

* S&P SAYS REVISING OUTLOOK ON AZERBAIJAN‘S LONG-TERM RATINGS TO STABLE FROM NEGATIVE AND AFFIRMING THE ‘BB+/B’ FOREIGN AND LOCAL CURRENCY RATINGS

* S&P SAYS OUTLOOK REVISION ON AZERBAIJAN PRIMARILY REFLECTS VIEW THAT ECONOMIC FUNDAMENTALS SHOULD GRADUALLY STRENGTHEN OVER THE NEXT FOUR YEARS

* S&P SAYS AZERBAIJAN‘S ECONOMIC GROWTH IS PROJECTED TO RECOVER MODERATELY BUT WILL REMAIN DEPENDENT ON OIL INDUSTRY TRENDS AND PUBLIC INVESTMENT

* S&P SAYS AZERBAIJAN‘S RATINGS CONSTRAINED BY WEAK INSTITUTIONAL EFFECTIVENESS, NARROW & CONCENTRATED ECONOMIC BASE, LIMITED MONETARY POLICY FLEXIBILITY

* S&P SAYS AZERBAIJAN‘S DISPUTE WITH ARMENIA OVER NAGORNO-KARABAKH CONTINUES TO POSE DOWNSIDE RISKS, DO NOT EXPECT CONFLICT TO ESCALATE IN MEDIUM TERM

* S&P SAYS PROSPECTS OF RESOLUTION OF AZERBAIJAN'S DISPUTE WITH ARMENIA OVER NAGORNO-KARABAKH, HOWEVER, SO FAR "SEEM LIMITED" Source text - bit.ly/2BxlRWg

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