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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.