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approved water tariffs for 2021-2023 increase allowed revenue by about 36% in comparison with the previous regulatory period for the entire water segment. As a result, Fitch expected funds from operations (FFO) net leverage to return to below the negative rating sensitivity in 2022-2023.
The pandemic affected GGU's revenue and Ebitda, while lower demand from business customers contributed to the decline for the water segment.
65 GEORGIA Country Report December 2021 www.intellinews.com