[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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English
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Credit Rating
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Update Notification Flag
Evet (Yes)
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Hayır (No)
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Date Of The Previous Notification About The Same Subject
19.03.2024
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Hayır (No)
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Announcement Content
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Explanations
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On April 23, 2024, International Credit Rating Agency Fitch Ratings upgraded Türkiye Şişe ve Cam Fabrikaları A.Ş.'s (‘Sisecam') Long-Term Foreign-Currency Issuer Default Rating from "B+" to "BB-" and maintained its outlook as "positive". Concurrently, Fitch Ratings assigned an expected "BB-(EXP)" instrument rating for the planned Eurobond issuance of Sisecam UK Plc, a 100% subsidiary of our Company. In its statement, Fitch Ratings highlighted that upgrade reflects the company's credit enhancements such as the recently established offshore hard-currency liquidity and growing offshore EBITDA generation that allow a notch uplift above Turkiye's ‘B+' country ceiling.


In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.