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![Scope affirms B+/Stable issuer rating for Georgian real estate developer JSC Lisi Lake Development](https://www.scopegroup.com/ScopeOneApi/images/announcement-img?imageName=mitteilung_c6c28451ce3aae06c4aefb90618fbd12532b4cdb8a018248bd90b73061532f27.jpg)
3/2/2021 Rating announcement EN
Scope affirms B+/Stable issuer rating for Georgian real estate developer JSC Lisi Lake Development
The ratings are primarily driven by the company's low leverage and robust sales growth but constrained by a lack of significant recurring revenues and a very concentrated project pipeline.
![Scope affirms JSC Lisi Lake Development at B+, Outlook upgraded to Positive; new bond rated at BB](https://www.scopegroup.com/ScopeOneApi/images/announcement-img?imageName=mitteilung_7f873e5ee61f36e60bcd62aafa3058bb4c7313a2c6c899c4cfd55e0fe495ad72.jpg)
8/2/2019 Rating announcement EN
Scope affirms JSC Lisi Lake Development at B+, Outlook upgraded to Positive; new bond rated at BB
The Outlook change is driven by the larger development pipeline and improved visibility on funding for the company's two main projects. The rating of the senior unsecured notes worth USD 12m reflects their strong expected recovery.
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