Georgia and Azerbaijan to Set up Joint Company

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Georgian Railway and Azerbaijan train company plan to begin a joint company, depending on S&P Global Recommendations.

The joint company could operate in the Georgian part of Baku-Tbilisi-Karsi railroad.?
At the same time, your rating company provides revised Georgian Railway history and lowered this to the Outlook for Negative from Constructive at B+/B level.

Georgian Government has built the Georgian area of Baku-Tbilisi-Karsi railway by a bank loan of Azerbaijan Government. Each countries will begin a joint company which will manage the Georgian section, S&G expert says.

The first test train in Baku-Tbilisi-Kars railroad was off for January 29, 2015. At the moment, a major part of the job has been finished as well as launch operation in the near future.

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