S&P lifts Georgian Railway, Georgian Oil to positive

S&P said it revised the outlooks to positive from stable on Georgian Railway LLC and Georgian Oil and Gas Corp. JSC, which are two Georgia-based government-related entities.

The outlook revision reflects a recent similar outlook revision on Georgia.

S&P also affirmed the B+ and B ratings on these two companies.

The positive outlooks reflect the sovereign outlook, combined with an expectation that Georgian Railway will continue to benefit from a very high likelihood of extraordinary government support and that its stand-alone credit quality will remain broadly unchanged at B, S&P explained.

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