Page 47 - GEORptJun22

Georgia market cap at USD751mn in Jan 2022
As of January 3, 2022, 23 companies are admitted on the Georgian Stock Exchange (GSE), with total market capitalisation of USD751mn and daily turnover in December 2021 was GEL 11, according to the GSE.
8.4 International ratings
Georgia - Rating agency
as of April 2022
Bond rating: Moody’s
BA2 (Negative)
Bond rating: Fitch
BB (Negative)
Bond rating: S&P
BB (Negative)
Moody’s cuts Georgia’s credit rating outlook amid fears of Ukraine war spillover
Moody’s cut the outlook on Georgia’s sovereign 'BA2' credit rating to negative from stable on April 28, warning of risks linked to Russia’s invasion of Ukraine and Tbilisi’s own history of clashes with Moscow.
The rating agency said the decision to change Georgia’s outlook – which effectively puts it on a downgrade warning – reflected the “heightened geopolitical event risks” given Georgia’s “frozen” conflicts with Russia over South Ossetia and Abkhazia.
“While not Moody’s base case, a crystallisation of these political risks, including a possible expansion of the military conflict to Georgia and a consequent significant and sustained impact on Georgia’s economic and fiscal prospects, would weigh on its credit outlook,” Moody’s said.
47 GEORGIA Country Report June 2022 www.intellinews.com