BRIEF-S&P Says Outlook On Azerbaijan Revised To Negative From Stable, Ratings Affirmed At 'BB+'

BY Reuters | CORPORATE | 10/23/20 04:32 PM EDT

Oct 23 (Reuters) - S&P:

* S&P SAYS OUTLOOK ON AZERBAIJAN REVISED TO NEGATIVE FROM STABLE, RATINGS AFFIRMED AT 'BB+'

* S&P SAYS AZERBAIJAN OUTLOOK REVISED TO NEGATIVE ON RISING RISKS FROM MILITARY CONFLICT OVER NAGORNO-KARABAKH; RATINGS AFFIRMED

* S&P SAYS NEGATIVE OUTLOOK ON AZERBAIJAN REFLECTS RISING RISKS TO FISCAL PERFORMANCE, EXTERNAL BALANCE SHEET, AND MACRO-FINANCIAL STABILITY

* S&P SAYS NEGATIVE OUTLOOK ON AZERBAIJAN REFLECTS THAT CONFLICT COULD WEIGH ON GROWTH PROSPECTS AND DAMPEN FOREIGN INVESTOR CONFIDENCE

* S&P SAYS AMID MILITARY CONFRONTATION, AZERBAIJAN'S FISCAL METRICS COULD MATERIALLY DETERIORATE AS A RESULT OF INCREASED BUDGET SPENDING ON DEFENSE Source text : (https://bit.ly/3miqJGB)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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