S&P cuts Turk Hava Yollari

S&P said it lowered its long-term issuer credit rating on Turk Hava Yollari A.O. to B+ from BB-. The outlook is stable.

The agency also lowered its issue ratings on the company’s aircraft-backed enhanced-equipment trust certificates to BB+ from BBB-.

“The rating action follows the lowering of our unsolicited long-term local currency rating on Turkey to BB- from BB and our unsolicited long-term foreign currency rating to B+ from BB-, on Aug. 17, 2018. We also lowered our transfer and convertibility assessment to BB- from BB+,” S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.