Bank of Georgia Group PLC JSC Bank of Georgia's rating upgrade by Moody's (3533I)
December 11 2020 - 3:00AM
UK Regulatory
TIDMBGEO
RNS Number : 3533I
Bank of Georgia Group PLC
11 December 2020
London, 11 December 2020
Bank of Georgia Group announces Bank of Georgia's rating upgrade
by Moody's
Bank of Georgia Group PLC announces that on 10 December 2020
Moody's Investor Services ("Moody's") has upgraded JSC Bank of
Georgia's (the "Bank" or "Bank of Georgia") foreign currency
deposit rating to Ba2 from Ba3, with a stable outlook.
The Bank's credit rating action follows the changes in local and
foreign currency country ceilings applied to banks' jurisdictions
following the publication of Moody's updated Local and Foreign
Currency Country Ceilings for Bonds and Other Obligations
Methodology on 7 December 2020.
Name of authorised official of issuer responsible for making
notification: Natia Kalandarishvili, Head of Investor Relations and
Funding
About Bank of Georgia Group PLC
Bank of Georgia Group PLC ("Bank of Georgia Group" or the
"Group" - LSE: BGEO LN) is a UK incorporated holding company, which
comprises: a) retail banking and payment services; b) corporate and
investment banking and wealth management operations in Georgia; and
c) banking operations in Belarus ("BNB"). JSC Bank of Georgia
("Bank of Georgia", "BOG" or the "Bank"), the leading universal
bank in Georgia, is the core entity of the Group. In the
medium-term, the Group targets to benefit from superior growth of
the Georgian economy through both its retail banking and corporate
and investment banking services and aims to deliver on its
strategy, which is based on at least 20% ROAE and c.15% growth of
its loan book .
JSC Bank of Georgia has, as of
the date hereof, the following
credit ratings:
Fitch Ratings 'BB-/B'
Moody's 'Ba2/NP' (FC
and LC)
For further information, please visit www.bankofgeorgiagroup.com
or contact:
Archil Gachechiladze Michael Oliver Sulkhan Gvalia Natia Kalandarishvili
CEO Adviser to the CFO Head of Investor
CEO Relations
+995 322 444 444
+995 322 444 144 +44 203 178 4034 +995 322 444 108 (9282)
agachechiladze@bog.ge moliver@bgeo.com sgvalia@bog.ge ir@bog.ge
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