S&P Has Lowered The Rating Of Georgian Railway
The rating agency S&P has lowered the rating of Georgian Railway. The agency has approved the Georgian Railway’s credit rating in foreign currency on B+ level with ‘negative’ forecast.
Last year, the rating agency also lowered Georgian Railway’s rating. Until now, forecast for the Georgian Railway has been ‘stable’.
Over the 6-month period of 2017, Georgian Railway transported 5,700,378 tons of freight, which is 500,000 tons less than within similar period of the previous year. Last year, total incomes of the state company reduced by 23% and the volume of shippings reduced by 16% annually.