Bank of Georgia Group PLC Moody's upgrades Bank of Georgia's outlook
02 Aprile 2024 - 8:15AM
RNS Regulatory News
RNS Number : 9096I
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
|
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