Fitch changes Sisecam view

Fitch Ratings said it revised the outlook on Turkiye Sise ve Cam Fabrikalari AS's (Sisecam) long-term issuer default rating to negative from stable and affirmed the issuer default rating and senior unsecured rating at BB+.

The agency said the revision of the outlook reflects the negative outlook on Turkey's sovereign long-term foreign-currency issuer default rating (BB/negative).

The ratings reflect Sisecam's solid business profile, which benefits from strong market shares in the glass industry in its domestic market and some export markets in Eastern Europe, Fitch said.

The ratings further reflect the company's broad end-market diversification, with an exposure to various markets with different cycles, the agency added.

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