Moody's trims Turkish Airlines

Moody's Investors Service said it downgraded Turk Hava Yollari Anonim Ortakligi's (Turkish Airlines) corporate family rating to B2 from B1 and probability of default rating to B2-PD from B1-PD. The ratings have been placed on review for further downgrade.

Moody's also placed on review for downgrade its ratings on the two enhanced equipment trust certificates of Turkish Airlines it rates: Bosphorus Pass-Through Trust 2015-1A rated Ba3 and the yen-denominated, Anatolia Pass-Through Trust class A rated Ba3 and class B rated Ba3.

The agency attributed the downgrade to the dramatic effect on travel the coronavirus outbreak has caused airlines and other travel-related companies.

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