According to information, SOCAR’s capital expenditures will amount to 10 billion manats in the years 2016 to 2019.
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SOCAR`s liquidity is adequate - Fitch
24 February 2017
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SOCAR`s liquidity is adequate, the international rating agency “Fitch Ratings” says.
“We view SOCAR`s liquidity as adequate - as of end-June 2016 AZN3.8bn of cash and cash equivalents covered AZN3.4bn of short-term maturities. The company`s cash balance was mainly denominated in US dollars (63%)and in manat (23%). SOCAR`s debt is predominantly dollar-denominated, but the manat`s steep depreciation versus the dollar since 2015 should be credit-neutral, as the company has effectively a long position in US dollar on the back of its export revenue,” the rating agency says.
According to information, SOCAR’s capital expenditures will amount to 10 billion manats in the years 2016 to 2019.
According to information, SOCAR’s capital expenditures will amount to 10 billion manats in the years 2016 to 2019.
