Baku (Turkiye News): International insurance and risk management company Allianz Trade has upgraded Azerbaijan’s country risk rating from C1 to B1, marking a significant development despite ongoing global uncertainties.
According to media reports, this upgrade comes at a time when shifting global trade dynamics and rising tensions in the Middle East have increased concerns over disruptions in key maritime routes, particularly the Strait of Hormuz. As a result, many countries are reassessing financial risks and payment systems.
The organization noted that under the current global conditions, most countries have experienced downgrades in their ratings. However, Azerbaijan is among the few economies that have shown improvement.
The company also stated that Costa Rica and Kazakhstan are among other nations that have received positive rating upgrades due to better economic prospects, while many others have faced negative revisions.
