Fitch Affirms Tegeta Motors at ‘B-‘; Withdraws Rating

Fitch Ratings has affirmed Georgian auto parts company Tegeta Motors LLC’s Long-Term Issuer Default Rating (IDR) at ‘B-‘ with Stable Outlook. The rating has simultaneously been withdrawn.

The rating of Tegeta Motors is constrained by its small scale, lack of geographical diversification, negative free cash flow (FCF) generation, and tight liquidity position. Positively the company benefits from its leading market position in the local market and a significant proportion of aftermarket-driven non-cyclical revenue that helps to support profitability even in times of crisis.

The ratings were withdrawn with the following reason: For Commercial Purposes.

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Fitch Affirms Tegeta Motors at ‘B-‘; Withdraws Rating

Fitch Ratings has affirmed Georgian auto parts company Tegeta Motors LLC’s Long-Term Issuer Default Rating (IDR) at ‘B-‘ with Stable Outlook. The rating has simultaneously been withdrawn.

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Fitch Affirms Tegeta Motors at ‘B-‘; Withdraws Rating

Fitch Ratings has affirmed Georgian auto parts company Tegeta Motors LLC’s Long-Term Issuer Default Rating (IDR) at ‘B-‘ with Stable Outlook. The rating has simultaneously been withdrawn.

Last 7 Days Hot Topic

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine 01

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC 02

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul 03

Georgia Sees Surge in Electric Vehicle Registrations 04

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path 05

Levan Lepsveridze Joins Jury at Cannes International Festival 06

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine
01

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
02

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul
03

Georgia Sees Surge in Electric Vehicle Registrations
04

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path
05

Levan Lepsveridze Joins Jury at Cannes International Festival
06