Credit Rating Note


The international rating organization Moody's Investor Services have reduced Turkey’s country credit note from Ba3 to B1 with a negative outlook, and the long term foreign currency country borrowing ceiling from Ba2 to B1. Our Company’s long term credit note has been set as B1 along with other 11 Turkish Companies, and the outlook has been revised as negative, due to the reduction of the country note, and the country borrowing ceiling.

The Moody's report emphasizes that while the credit indicators point at a higher rating, the Company’s credit note is limited with the country borrowing ceiling.

The relevant press release of Moody's Investor Services related with the credit rating is also accessible through our Corporate Web Site

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