Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Mersin Uluslararasi Liman Isletmeciligi AS > News item |
Fitch downgrades Mersin debt
Fitch Ratings said it downgraded Mersin Uluslararasi Liman Isletmeciligi AS's $450 million senior debt rating to BB+ from BBB-.
The outlook is negative.
The agency said the actions follow the downgrade of Turkey's sovereign credit ratings and country ceiling.
“In our view, the country ceiling will continue to cap MIP's rating, as its operating cash flows are fully generated in Turkey, while the existing unrestricted cash deposits are almost fully held outside the country,” Fitch said in a news release.
© 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.