Moody's upgrades Bank of Georgia's outlook

Bank of Georgia Group PLC
02 April 2024
 

 

 

 

 

London, 2 April 2024

 

Moody's affirms the long-term deposit ratings of JSC Bank of Georgia and changes outlook from negative to stable

 

Bank of Georgia Group PLC announces that on 28 March 2024, Moody's Investors Service ("Moody's") affirmed JSC Bank of Georgia's (the "Bank" or "Bank of Georgia") Ba2 long-term local and foreign currency deposit ratings and revised the outlook from negative to stable.  This follows Moody's recent amendment of Georgia's sovereign outlook from negative to stable.

 

Moody's also upgraded the Bank's Baseline Credit Assessment and Adjusted Baseline Credit Assessment to Ba2 from Ba3, reflecting the Bank's strong performance over the past 24 months.

 

Furthermore, adjustments were made to the Bank's long-term Counterparty Risk Rating (CRR) and long-term Counterparty Risk Assessment (CRA), which now stand at Ba1(cr), indicating an improvement by one notch.

 

 

 

 

 

 

 


 

 

 

Name of authorised official of issuer responsible for making notification: Nini Arshakuni, Head of Investor Relations

 

About Bank of Georgia Group PLC

Bank of Georgia Group PLC (the 'Company' - LSE: BGEO LN) is a FTSE-250 company. Its core entity is JSC Bank of Georgia ('Bank of Georgia', 'BOG', or the 'Bank'), a digital banking leader in Georgia that provides a suite of banking and financial services to retail clients and businesses. By building on its competitive strengths, the Group is committed to delivering strong profitability sustainably and maximising shareholder value.

Legal Entity Identifier: 213800XKDG12NQG8VC53

 

For further information, please visit www.bankofgeorgiagroup.com or contact:

 

Michael Oliver

Nini Arshakuni

Adviser to the CEO

Head of Investor Relations

+44 203 178 4034

+995 322 444 444 (7515)

moliver@bgeo.com

ir@bog.ge

 


This report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings