Tbilisi – 22 July 2021: Fitch Ratings published a revised Rating, removing Rating ‘Watch Negative’ (RWN) and affirming Long-Term IDR ‘Stable’ for Crystal. Fitch outlines that rating affirmation reflects Crystal’s continued access to borrowings from foreign lenders in 2Q21, thereby successfully reducing refinancing risk. The ratings of Crystal reflect its leading position in the Georgian...Read More

Tbilisi/Zurich: Financial Inclusion Organisation Crystal has strengthened longstanding partnership with Swiss Impact Investment Manager responsAbility Investments AG with a new $5 million senior facility to support Crystal’s clients to tackle post-pandemic challenges. Loan is intended to support development of innovative financial services to micro entrepreneurs and farmers across Georgia. Crystal and responsAbility Investments AG have...Read More

On February 19, Fitch reviewed Crystal’s rating and placed Rating Watch Negative on Refinancing Risk. Crystal, consistent with its transparency culture, continues a partnership with the credit rating agency despite of worsened macroeconomic environment and elevated risks in the financial sector. The latest report singles out refinancing as an open risk, but more importantly it...Read More