08/12/2015 Georgian Water and Power is the first utility company in the country assigned “BB-” rating by Fitch Ratings
International rating company Fitch Ratings assigned “BB-” rating to Georgian Water and Power LLC on 8 December, 2015 which is indicative of high reliability, financial stability and system management of the company.
Georgian Water and Power is the first non-financial private company in Georgia assigned the country’s highest sovereign long-term “BB-” rating by Fitch Ratings on the first try, with stable outlook. Galt & Taggart company provided Georgian Water and Power with consulting services and partnership necessary for the rating assignment. Sovereign rating of Georgia is the factual maximum to be obtained by the company operating in the country. The above-mentioned innovation imposes high responsibility on the company since Georgian Water and Power is the first utility company in Georgia to have achieved such success. It is an important stage for the company which will improve corporate management of GWP and its ability to attract investments.
Fitch Ratings is aworld-wide leading rating agency in the field of finance and information service. It is a key provider of credit ratings and surveys. Fitch Ratings offers to the world markets the credit considerations that are worthful in itself and have global perspective. The Fitch Ratings’ strong market experience and expertise related to local credit markets ensure additional opportunities for the investment funds and investors to make important credit and financial decisions. The Fitch Ratings has got various parameters for the assessment of financial status. The ratings of Fitch Ratings are among the basic indicators calling attention of international finance institutions and investors for the purpose of making investment in the company in the future.
Link: fitchratings.com- 08.12.2015