According to the agency, the outlook is negative.
“At the end of November, Azerbaijan Railways has delayed payment on one of the large-amount of credits due to any bureaucratic procedures. Therefore, we raised relationship with Azerbaijan Railways CJSC from “strong” to the “strongest”. Moreover, probability of assistance by the government to the CJSC has been increased from “high” to the “highest”. The CJSC is of great importance for the government”.
S&P reduces Azerbaijan Railways
14 December 2015
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Standard & Poor
