Baku: Fitch has raised Azerbaijan's Country Ceiling to 'BBB' from 'BBB-', APA-Economics reports. "We believe risks of capital controls are mitigated by adequate FX supply in the economy, reduced financial dollarisation and improvements in liquidity management by the central bank, while robust FX reserves and SOFAZ's FX-denominated assets can comfortably support the de facto currency peg to the US dollar," noted on Fitch website. According to Azeri-Press News Agency, the decision to upgrade Azerbaijan's Country Ceiling reflects a positive assessment of the nation's financial stability and currency management. The enhanced rating suggests that Azerbaijan is perceived to have a stronger capacity to meet its financial obligations, thus boosting investor confidence. The improvement in liquidity management by the central bank and the country's foreign exchange reserves are key factors contributing to this upgrade.