[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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English
oda_CreditRatingAbstract|
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
29.04.2021
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Hayır (No)
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Announcement Content
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Explanations
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Following its periodic annual review of the corporate credit rating, JCR Eurasia Rating rated the consolidated structure of MLP Sağlık Hizmetleri A.Ş. ("MLP Care") in the high investment grade category at national level and upgraded the ratings as "A (Tr)" from "A- (Tr)" on the Long-Term National Scale and assigned the Short-Term National Scale at "J1 (Tr)" with "Stable" outlooks. On the other hand, the Long Term International Foreign and Local Currency Ratings have been assigned as "BB/Stable" which are capped with the sovereign ratings and outlooks of Republic of Turkey.

The rating upgrade was driven by the MLP Care's leading position nationally in the private healthcare industry supported by established brand-names and concepts, maintenance of strong revenue and EBITDA growth, continuation of upward trend in profit margıns with improvement in operational performance, low level of net financial debt underpinned by asset light expansion strategy and successful ramp-up of acquired and newly opened hospitals, diversification of income stream supporting predictable cash flow generation, competitive advantage across the sector owing to listed structure and established track record in the domestic debt issuance market, and well managed business.