TBC Bank Group PLC Moody's upgrades TBC Bank Credit Rating (6570Q)
13 September 2017 - 10:15PM
UK Regulatory
TIDMTBCG
RNS Number : 6570Q
TBC Bank Group PLC
13 September 2017
Moody's upgrades TBC Bank Credit Rating
Moody's Investors Service (Moody's) has announced today that it
has upgraded the credit rating of JSC TBC Bank ("TBC Bank"),
subsidiary of TBC Bank Group PLC. The Bank's local-currency deposit
rating has been increased to Ba2 from Ba3 and its foreign-currency
deposit rating to Ba3 from B1. The ratings continue to carry a
stable outlook.
This change was driven by Moody's upgrade of Georgia's
government bond ratings to Ba2 stable from Ba3 stable on 11
September 2017.
For further enquiries, please contact:
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
About Moody's
Moody's is an essential component of the global capital markets,
providing credit ratings, research, tools and analysis that
contribute to transparent and integrated financial markets. Moody's
Corporation (NYSE: MCO) is the parent company of Moody's Investors
Service, which provides credit ratings and research covering debt
instruments and securities.
About TBC Bank Group PLC ("TBC PLC")
TBC PLC is a public limited company registered in England and
Wales that was incorporated in February 2016. TBC PLC became the
parent company of JSC TBC Bank ("TBC Bank") on 10 August 2016. TBC
PLC is listed on the London Stock Exchange under the symbol
TBCG.
TBC Bank, together with its subsidiaries, is the leading
universal banking group in Georgia, with a total market share of
38.0% of loans and 39.8% of non-banking deposits as at 30 June
2017, according to the data published by the National Bank of
Georgia.
This information is provided by RNS
The company news service from the London Stock Exchange
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September 13, 2017 08:15 ET (12:15 GMT)
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