Moody's revises up credit rating of Azerbaijan Railways
The publication spotlights upgrade of the long-term Corporate Family Rating (CFR) of Azerbaijan Railways CJSC (ADY) from B1 to Ba3 by the Moody's agency. The company said that the agency's decision to raise the rating was driven by passenger transportation, safety, and sustainable development during ADY’s operations last year. The company expressed opinion that as a result of the upgraded credit rating, the expansion of ADY’s financial capacity, the improvement of operational efficiency, and the strengthening of its international reputation will contribute to consolidating Azerbaijan’s position as a regional transport and logistics hub
