[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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Credit Rating
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Update Notification Flag
Evet (Yes)
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Correction Notification Flag
Hayır (No)
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Date Of The Previous Notification About The Same Subject
18.09.2017
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Hayır (No)
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Announcement Content
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Explanations
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On July 13 2018, Fitch Ratings revised Turkey's long-term foreign currency sovereign rating from "BB+" to "BB", and the outlook from "Stable" to "Negative". Country ceiling was also downgraded to 'BB+' from 'BBB-'.
As a result of the downgrade of the sovereign ratings, Fitch has revised our company's Long-term Foreign and Local Currency Issuer Default Rating from "BBB-" to "BB+". Senior unsecured rating is also revised from "BBB-" to "BB+"