Thursday, December 22, 2016

Fitch Affirms 3 Mid-Sized Georgian Banks

(The following statement was released by the rating agency)

MOSCOW/LONDON, December 22 (Fitch) Fitch Ratings has affirmed

the Long-Term

Issuer Default Ratings (IDRs) of Cartu Bank (Cartu) at 'B+',

Basisbank (Basis)

at 'B' and Halyk Bank Georgia (HBG) at 'BB-'. The Outlooks are

Stable. A full

list of rating actions is at the end of this rating action

commentary.

KEY RATING DRIVERS - ALL BANKS' IDRs, VIABILITY RATINGS (VRs)

The IDRs of Cartu and Basis are driven by their intrinsic

strength, as

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