S&P lowers Mersin International Port

S&P said it lowered its long-term issuer credit on Mersin International Port and the issue rating on the company's debt to B from B+.

The outlook is stable.

S&P noted that it lowered its unsolicited long-term local currency sovereign credit rating and revised downward the transfer and convertibility (T&C) assessment on Turkiye to B from B+.

S&P said its rating on port operator Mersin is constrained by the agency’s T&C assessment on Turkiye, because all the company's port operations are based in the country.

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