S&P lowers Dogus, view negative

S&P said it lowered its long-term issuer credit ratings on Dogus Holding AS to B from B+ and its long- and short-term national scale ratings to trBBB+/trA-2 from trA+/trA-1. The outlook is negative.

At the same time, S&P removed the ratings from CreditWatch negative where S&P placed them on April 18.

“The downgrade and our negative outlook reflect our concerns about Dogus' ability to execute planned asset sales on a timely basis, to meet its upcoming debt maturities in the second half of 2019 and in 2020,” S&P said in a news release.

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