Moody's takes rating actions on 9 Turkish corporates

Baku, July 21, AZERTAC

Moody's Investors Service has placed on review for downgrade the ratings of eight Turkish corporates, according to Moody’s.

At the same time, Moody's has downgraded to Ba2 from Ba1 the corporate family rating (CFR) and to Ba2-PD from Ba1-PD the probability of default rating (PDR) of Turkey's national airline Turk Hava Yollari Anonim Ortakligi (Turkish Airlines).

Moody's also downgraded Turkish Airlines' Enhanced Equipment Trust Certificates (EETCs) to A3 from A2 (Bosphorus Pass Through Trust 2015-1A), to A3 from A2 (Anatolia Pass Through Trust 2015-1: Class A) and to Baa3 from Baa2 (Anatolia Pass Through Trust 2015-1: Class B). The outlook on the corporate and EETC ratings of Turkish Airlines is negative.

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