S&P rates Georgian Railway B+, B

Standard & Poor's said it assigned a B+ long-term and B short-term issuer credit ratings to Georgian Railway LLC, which is wholly owned by the government of Georgia.

The outlook is stable.

The rating is based on the company's stand-alone credit profile, which reflects its creditworthiness before taking into account the potential for extraordinary government intervention, S&P said. Its business risk profile is considered weak and it has an aggressive financial risk profile, the agency said.

The ratings also are constrained by the geopolitical situation in the region and the high dependence of the company's cash flows on transit freight, which contributes the majority of its revenues, S&P said.

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