Moody's: International Bank of Azerbaijan notes Ba3

Moody's Investors Service said it assigned a Ba3 long-term foreign-currency senior unsecured debt rating to the upcoming senior unsecured notes to be issued by International Bank of Azerbaijan.

The outlook is positive.

Moody's said the rating is in line with International Bank of Azerbaijan's global local currency deposit rating (positive outlook), which is, in turn, based on (a) the bank's standalone E+ bank financial strength rating (stable outlook), equivalent to a baseline credit assessment of b3; and (b) Moody's assessment of a high probability of support from the government of the Republic of Azerbaijan (Baa3 stable) - which results in a three-notch uplift above the bank's baseline credit assessment.

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