Azerbaijan Credit Rating Cut to Junk by Fitch on Oil Rout Impact

Azerbaijan was cut to junk by Fitch Ratings, which followed downgrades by the other two main credit companies, as the former Soviet Union’s third-biggest oil exporter is expected to see its economy shrink for the first time in seven years amid a collapse in crude.

The rating was lowered to BB+ from BBB-, Fitch said in a statement on Friday. Standard & Poor’s and Moody’s Investors Service had cut the country to junk in the past month.

“Low oil prices have caused ........