Page 47 - GEORptSep22
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Georgia market cap at USD828mn in July 2022
23 companies are admitted on the Georgian Stock Exchange (GSE) and Georgia market capitalisation accounted for USD828mn in July 2022, compared to USD781.8mn in the previous month, according to the GSE.
8.4 International ratings
Georgia - Rating agency
as of August 2022
Bond rating: Moody’s
BA2 (Negative)
Bond rating: Fitch
BB (Negative)
Bond rating: S&P
BB (Negative)
Fitch affirms Georgia at ‘BB’ credit rating
Fitch Ratings affirmed Georgia's long-term foreign currency issuer default rating status at a 'BB' level, with a "stable" outlook for the country's financial developments, on July 29.
The international credit rating agency report said Georgia has "a credible and effective policy framework and stronger governance indicators" relative to counterparts with the 'BB' rating.
Fitch underscored the Russian invasion of Ukraine had been a "large positive economic shock," with up to 90,000 Russians, Belarusians, and Ukrainians entering Georgia, resulting in a surge of remittances by 65% y/y in the first half of 2022.
47 GEORGIA Country Report September 2022 www.intellinews.com
