JSC Georgian Oil and Gas Corporation - Fitch Research

JSC Georgian Oil and Gas Corporation

JSC Georgian Oil and Gas Corporation - Fitch Research
JSC Georgian Oil and Gas Corporation
Published Mar 22, 2019
16 pages (7294 words) — Published Mar 22, 2019
Price US$ 550.00  |  Buy this Report Now

About This Report

Brief Excerpt:

...Fitch Ratings' recent upgrade of Georgia-based JSC Georgian Oil and Gas Corporation's (GOGC) Long-Term Issuer Default Rating (IDR) follow s a recent similar rating action on the Georgian sovereign (see Fitch Upgrades Georgia to `BB'; Outlook Stable dated 22 February 2019 at w w w .fitchratings.com). Fitch rates GOGC under its Government- Related Entities (GRE) Rating Criteria, applying a one-notch uplift to its standalone credit profile (SCP) of `BB-' to arrive at the same rating as Georgia, the ultimate source of potential support to the company. The `BB-' SCP of GOGC reflects its monopoly position in gas transportation in Georgia, its status as the national oil company and its role as the state's agent in the pow er sector, a key area of the region's economies. It also reflects a solid financial profile w ith funds from operations (FFO) net adjusted leverage remaining below our negative rating sensitivity of 3.5x (2017: 0.8x) during 2018-2022, despite high capex and a dividend pay-out...

Report Type:

Full Rating Report

JSC Georgian Oil and Gas Corporation
PDF Adobe Acrobat
Buy Now

Fitch Research—Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.

About the Author

Cite this Report

Fitch Research. "JSC Georgian Oil and Gas Corporation" Mar 22, 2019. Alacra Store. Jun 25, 2019. <http://www.alacrastore.com/fitch-credit-research/JSC-Georgian-Oil-and-Gas-Corporation-947175_report_frame>
Fitch Research. (). JSC Georgian Oil and Gas Corporation Mar 22, 2019. New York, NY: Alacra Store. Retrieved Jun 25, 2019 from <http://www.alacrastore.com/fitch-credit-research/JSC-Georgian-Oil-and-Gas-Corporation-947175_report_frame>
US$ 550.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.