Fitch: Anadolu Efes view to stable

Fitch Ratings said it changed Anadolu Efes Biracilik ve Malt Sanayii AS's outlook to stable from negative and affirmed its long-term foreign- and local-currency issuer default ratings at BB+ and national long-term rating at AA+(tur).

The outlook change reflects the resilient performance of the company through the economic crisis of 2008/2009 and improved consumer spending, as well as the stabilization of the exchange rates, Fitch said.

Ratings concerns have abated and the company is in a stronger cash flow and leverage position to withstand new challenges in its core markets of Turkey and Russia, Fitch said.

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