Fitch: Global Liman notes view to negative

Fitch Ratings said it revised the outlook for Global Liman Isletmeleri AS' $250 million senior unsecured notes due 2021 to negative from stable.

The rating was affirmed at BB-.

Fitch said the revision to a negative outlook reflects its view that worsening security conditions in Turkey could have a material impact on the tourist sector with a related knock-on effect on Global Liman’s Turkish cruise segment and relevant projected metrics.

The recent lower demand for marble exports to China also limits the medium-term visibility on the future of Port of Akdeniz's containerized throughput, the agency added.

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