The State Oil Company of Azerbaijan Republic (SOCAR) has been included in the list of six ‘rising stars’ of the global oil and gas sector in 2025, after securing an investment-grade credit rating from Moody’s Investors Service, AzerNEWS reports.
According to the agency’s latest report, six oil and gas companies achieved investment-grade status this year, while one company was downgraded to speculative grade and classified as a ‘fallen angel.’
Moody’s noted that SOCAR’s rating stands at Baa3 with a stable outlook. The upgrade followed the improvement of Azerbaijan’s sovereign rating to Baa3, reflecting stronger macroeconomic and fiscal fundamentals at the national level.
Among other companies highlighted in the report, TechnipFMC plc saw its rating upgraded to Baa3 with a positive outlook in January 2025 and further improved to Baa2 in September. The agency cited a reduced debt burden, simplification of the capital structure and increased free cash flow as key drivers behind the upgrade.
Expand Energy Corporation (Baa3, stable) also received an upgrade, reflecting a significant reduction in debt and a commitment to a more conservative financial policy.
Moody’s upgraded the ratings of DT Midstream (Baa3, stable) and Vallourec (Baa3, stable) on the back of business expansion and continuous improvement in credit metrics.
Meanwhile, EnLink Midstream LLC saw its rating upgraded following its acquisition by ONEOK Inc. (Baa2, stable).