Moody's cuts Erdemir view to negative

Moody's Investors Service said it affirmed Erdemir's B2 corporate family rating. Its national scale rating remains unchanged Baa3.tr.

The agency said it changed its outlook to negative.

The change in outlook has been prompted by a significant margin deterioration of Erdemir during 2009 beyond the agency's prior expectations, Moody's said.

The affirmation takes into account the anticipated improvement of Erdemir's performance in 2010 in line with a stabilization of the economic situation in the next year, the agency said.

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