Fitch lifts Georgian Railway view to positive

Fitch Ratings said it revised the outlook on Georgian Railway LLC's long-term foreign- and local-currency issuer default ratings to positive from stable and affirmed the ratings at B+.

The agency also said it affirmed the company's foreign- and local-currency senior ratings at B+, recovery ratings at RR4, short-term foreign- and local-currency issuer default ratings at B and $250 million notes due 2015 at B+.

The ratings continue to be aligned with Georgia's sovereign ratings, and the company's outlook revision follows the revision of the outlook on Georgia's long-term foreign- and local-currency issuer default ratings to positive, Fitch said.

The rating alignment reflects the company's strong linkage with the government, the agency said.

The standalone business and financial profile is considered strong compared with the country's creditworthiness, Fitch added.

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