|
|
 |
|
Viewing report
|
|
|
|
Bank of Georgia Long-Term Rating Lowered To 'B' From 'B+' And Put On CreditWatch Negative Aug 08
Standard & Poors, Aug 2008
Abstract
PARIS (Standard & Poor's) Aug. 8, 2008--Standard & Poor's Ratings Services said today that it lowered its long-term counterparty credit rating on Bank of Georgia (BoG) to 'B' from 'B+'. Standard & Poor's also said that it placed this rating and the 'B' short-term rating on CreditWatch with negative implications. 'This rating action parallels the rating action today on the Government of Georgia (B/Watch Neg/B) as the sovereign moves rapidly toward all-out war with Russia (BBB+/Positive/A-2),' explained Standard & Poor's credit analyst Ekaterina Trofimova. 'This increases operational and business challenges for BoG and other Georgian banks and might pressure confidence and liquidity.' The ratings on BoG reflect the substantial political and operating risks prevalent in the transitional Georgian economy, systemic...
Companies mentioned in this report are: Bank of Georgia,Georgia (Government of)
Action: Downgraded
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
