Moody’s trims Turkish Airlines

Moody’s Investors Service said it downgraded Turk Hava Yollari Anonim Ortakligi’s corporate family rating to B3 from B2 and probability of default rating to B3-PD from B2-PD.

Moody’s also took rating actions on the two enhanced equipment trust certificates of Turkish Airlines it rates. The agency downgraded the Bosphorus Pass-Through Trust 2015-1A to B2 from Ba3 ratings, and the yen-denominated, Anatolia Pass-Through Trust, class A has been confirmed at Ba3 while class B has been downgraded to B1 from Ba3.

The agency revised the outlook on the airline and its EETC to negative from under review.

These rating actions conclude the review for downgrade started on March 24, Moody’s said.

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