Fitch trims two Turkish Ports notes

Fitch Ratings said it downgraded Limak Iskenderun Uluslararasi Liman Isletmeciligi's (LimakPort) $370 million of senior secured notes and Mersin Uluslararasi Liman Isletmeciligi AS' $600 million of senior unsecured notes to B+ from BB-.

“The rating action follows the recent downgrade of Turkey's sovereign long-term issuer default rating (IDR) to B+ from BB- (see 'Fitch Downgrades Turkey to B+; Outlook Negative' dated on the Feb. 11, 2022 at www.fitchratings.com). Turkey's sovereign IDR caps the ratings of both LimakPort and Mersin due to their linkages to the country's economic and regulatory environment,” the agency said in a press release.

The outlook is negative.

© 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.