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Tag Archives: Fitch Ratings

Georgia Hosts Annual Conference of Fitch Ratings

Georgia hosts Fitch Ratings Annual Conference in Georgia, which will be hosted on 10 October in Tbilisi. The event traditionally presents a valuable opportunity for informal communication with representatives of regulatory bodies, Fitch analysts as well as colleagues and business partners. Conference invitees include heads of major Georgian companies, senior executives of leading banks …

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Silknet Issued 34 Million Worth of Bonds

JSC Silknet issued a five-year Bond amount of GEL 34 million in accordance with Georgian Law on Securities Market. The money received from bonds was spent to refinance relevantly to existed bank credit. Bonds were purchased by Georgia based banks. Annual benefit (coupon) of the bonds is variable and makes …

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Fitch Approves Rating to Silknet

Fitch Approves Rating to Silknet

Fitch Ratings international rating company has conferred B+ rating to Silknet cellular communications operator with outlook of Stable. Fitch’s rating reflects the agency’s positive outlook on Silknet’s future: its ability to defend market positions, expected significant investments into new fibre infrastructure, key growth drivers, including broadband and pay-TV, and a …

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Fitch Sees Risks of Georgian Banking Market’s Close Down

Fitch Sees Risks of Georgian Banking Market’s Close Down

Fitch focuses attention on dominance of the two large institutions, TBC Bank and Bank of Georgia, after the acquisition of Societe Genreale by TBC Bank at 300 million. In her interview with The FINANCIAL, Olga Ignatieva, Senior Director at Fitch Ratings CIS Ltd notes, that TBC Bank and Bank of Georgia, …

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Fitch Approves BB Prognosis for Partnership Fund

Fitch Ratings international rating agency has confirmed the Partnership Fund’s rating at BB-Stable level. The agency has published the Partnership Fund’s rating on September 8. According to the agency press release, the Fund’s long-term foreign currency rating is BB, while the long-term domestic currency rating is BB-; the short-term foreign …

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Finance Minister Signs 27 million EUR Credit Agreement with EBRD

Finance Minister Signs 27 million EUR Credit Agreement with EBRD

On May 11-12 Georgian Finance Minister Nodar Khaduri is attending the annual meeting and business forum of the European Bank for Reconstruction and Development (EBRD) in London. On May 11, the Georgian Finance Minister will take part in unveiling the meeting of EBRD board of directors and a plenary session. …

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FITCH Assigns Georgian Water and Power ‘BB-‘ Ratings

International rating agency Fitch has assigned rating to company Georgian Water and Power (GWP). The company’s rating has been determined by ‘BB-‘. The Outlook is Stable. The ratings are supported  by high reliability of the company, efficiency, and system management of “Georgian Water and Power”. The rating reflects trust in the …

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Security – Leading Bank’s Vulnerable Chain

Security Leading Bank’s Vulnerable Chain

Bank of Georgia Keeps Silent on Theft of Millions of GEL, Bank Shares Keep Depreciating on London Stock Exchange Bank of Georgia has been robbed. According to the bank’s official statement, the criminal case took place on October 24. According to media agencies, felons have stolen 10 million GEL from …

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