[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
30.03.2023
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Hayır (No)
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Announcement Content
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Explanations
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JCR Eurasia Rating has evaluated "Yünsa Yünlü Sanayi ve Ticaret AŞ" in the investment grade category with very high credit quality and affirmed its Long-Term National Issuer Credit Rating as "AA+ (tr)" and the Short-Term National Issuer Credit Rating as "J1+ (tr)" with "Stable" outlooks. On the other hand, the Long Term International Foreign and Local Currency Issuer Credit Ratings and Outlooks were assigned as "BB/Negative".

• Consistent increase in EBITDA generation performance and profitability margns,

• Foreign currency denominated revenue providing a natural hedging mechanism for FX risk to a certain extent,

• Maintaining cash surplus position in 3Q2023 indicating favorable level of leverage,

• Satisfactory level of collection performance through credit risk management practices,

• Cost and time efficiency provided by integrated production facility,

• International client base and diversified product portfolio together with strong sales and marketing channels,

• Import dependency on raw materials and possible risks related to supply chain and logistics,

• Leading economic indicators signal global economic slowdown as quantitative tightening actions aim to restrict consumption  growth and achieve a soft-landing in the domestic side.


Essentially, the Long-Term National Issuer Credit Rating of "Yünsa Yünlü Sanayi ve Ticaret A.Ş." has been affirmed at "AA+ (tr)" and rating notes are determined as follows considering the above issues.

Long-Term National Issuer Credit Rating : AA+ (tr) / (Stable Outlook)

Short-Term National Issuer Credit Rating : J1+ (tr) / (Stable Outlook)

Long-Term International Foreign Currency Issuer Credit Rating : BB / (Negative Outlook)

Long-Term International Local Currency Issuer Credit Rating : BB / (Negative Outlook)


It is respectfully announced to the public.

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