Fitch: Efes unaffected

Fitch Ratings said it expects no rating impact on Anadolu Efes Biracilik ve Malt Sanayii AS should the company complete an intended buyout of minority interests in its international beer subsidiary, Efes Breweries International.

Efes is rated long-term foreign currency issuer default BB with stable outlook, long-term local currency issuer default rating BB+ with negative outlook and national long-term AA+ (tur) with negative outlook, the agency added.

According to Fitch, Efes is in the process of launching an offer to purchase, for up to $140 million, the 29.78% that it does not already own in Efes Breweries.

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