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Fitch stabilizes Georgian Railway view
Fitch Rating said it revised the outlook on Georgian Railway’s long-term foreign- and local-currency issuer default ratings to stable from negative and affirmed the IDRs at BB-.
“The rating actions follow the revision of Georgia's outlook to stable from negative (see 'Fitch Revises Georgia's Outlook to Stable; Affirms at BB, dated Aug. 6, 2021, at www.fitchratings.com). This rating action has a direct impact on GR's outlook as it is considered a government-related entity (GRE) of the Georgian state based on Fitch's GREs rating criteria,” the agency said in a press release.
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