Moody's to Upgrade Liberty Bank Rating

Financial services company Moody's has upgraded the rating of Liberty Bank from B1 to Ba3 on June 20, 2019. The rating was increased due to the reforms attempted by the Liberty Bank. The financial statements and access to the capital are improved. This positive adjustment was also affected by the diversifying process of the loan portfolio.

Liberty Bank will continue to diversify its loan portfolio, which corresponds to the Bank's disclosing strategy - to be established as a consumer-oriented, universal type of Bank. The simplified access on the capital markets gives an opportunity of attracting the financial resources,  which correspondingly will be positively conveyed on the Bank users.

"We are glad, that new steps forward elaborated by the new management have earned the trust of Moody's. Regardless of the negative effects of the new Bank regulations and reducing the adjustable rates on social loans, our team managed to take important steps forward in the field of setting up the high technological and universal type of Bank." Deputy CEO of Liberty Bank, Levan Lekishvili stated.