S&P: Dogus view negative

Standard & Poor's said it revised its outlook on Dogus Holding AS to negative from stable and affirmed the BB/B long- and short-term credit ratings on the company.

S&P said the outlook revision reflects the steady rise in Dogus' net debt and loan-to-value ratio over the past several quarters. Between 2011 and 2013, Dogus' consolidated net debt tripled to about $3.2 billion - in 2013 only, it increased by $1.2 billion. This primarily reflects the ongoing construction of the company's hydro electrical power plant projects and large investments in tourism and entertainment.

© 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.