[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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Fitch Ratings ("Fitch") has affirmed Anadolu Efes' Long-Term Foreign-Currency Issuer Default Rating and Local Currency Issuer Default Rating at ‘BB'. The Outlook has been revised to "Negative."
Fitch continues to assess the Company's liquidity as adequate, with no material refinancing needs ahead of the USD 500 million Eurobond maturity in 2028 and acknowledges Anadolu Efes' strong market positions, the Company's commitment to deleveraging and restoring free cash flow, as well as its strategy of diversifying across product categories and markets, all of which support the rating.