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Summary: Georgian Railway LLC Jun 11

  • ID: 1832210
  • June 2011
  • Region: Georgia
  • Standard & Poors
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Abstract
The rating on Georgian Railway LLC (GR), the fully owned, vertically integrated national railway operator in the Republic of Georgia, reflects Standard & Poor's Ratings Services' opinion that the likelihood of timely and sufficient extraordinary government support from the Government of Georgia (B+/Positive/B) is "extremely high." We assess GR's stand-alone credit profile (SACP) at 'b+', based on our view of GR's weak business risk profile and an aggressive financial risk profile. We consider GR as a government-related entity (GRE). In accordance with our criteria for GREs, our view of the "extremely high" likelihood of extraordinary support is based on our assessment of GR's: "Critical" role for the Georgian government, given GR's monopoly position as the manager and owner of the...

Companies mentioned in this report are: Georgian Railway LLC
Action: Review

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 READ MORE >

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Georgian Railway LLC

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