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S&P lifts Turk Telekom view to stable
S&P said it revised the outlook on Turk Telekom to stable from negative.
The agency also said it affirmed the company’s BBB- long-term and A-3 short-term corporate credit ratings.
The outlook revision follows the outlook revision on the Republic of Turkey, S&P said.
The agency also said it revised the outlook on Turk Telekom to stable given that the long-term rating is no longer constrained by the outlook on its sovereign.
Despite the stable view, there is an expectation that Turk Telekom's free operating cash flow will be slightly weaker in 2016 to 2017 as it continues significant investments in mobile and fiber fixed networks, S&P said.
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