Fitch affirms Dogus Holding

Fitch Ratings said it affirmed Dogus Holding’s long-term local- and foreign-currency issuer default ratings at BB- with positive outlook.

The ratings are based on the company’s plans to invest its liquidity in projects yielding higher returns and cash flows than the current levels of interest income, Fitch said.

Furthermore, the diversified nature of Dogus’s businesses serve to stabilize the holding’s earnings, especially when a given subsidiary in a sector might be going through a cyclical slow down while another could be benefiting from a positive trend in its respective sector, the agency said.

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