Moody’s acts on Turkish corporates

Moody’s Investors Service said it acted on 13 non-financial corporates domiciled in Turkey.

The ratings of 11 of the 13 corporates were placed on review for downgrade on June 6.

The actions follow the recent downgrade of Turkey's government bond rating to Ba3 with a negative outlook from Ba2 ratings under review for downgrade, the agency said.

Anadolu Efes Biracilik ve Malt Sanayii AS, Coca-Cola Icecek AS, Turkiye Petrol Rafinerileri AS, Turkiye Sise ve Cam Fabrikalari AS, Turkcell Iletisim Hizmetleri AS, Koc Holding AS and Ordu Yardimlasma Kurumu were downgraded to Ba2, Dogus Holding AS was downgraded to B1 and Eregli Demir ve Celik Fabrikalari TAS and Ronesans Gayrimenkul Yatirim were downgraded to Ba3.

Yasar Holding AS was downgraded to Caa1.

Petkim Petrokimya Holding AS was affirmed at B1 and its outlook was changed to negative, and Turk Hava Yollari Anonim Ortakligi was confirmed at Ba3.

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