S&P affirms Vestel

S&P said it affirmed its B- long-term corporate credit rating on Vestel Elektronik Sanayi Ve Ticaret AS.

The outlook is negative.

“The affirmation reflects our view that Vestel's operating performance remains sound and our expectation that Vestel's liquidity will improve in the coming months, as we understand that the company is in talks with banks to extend its debt maturity profile,” the agency said in a news release.

“However, we note that Vestel's liquidity could remain weak if the company continues relying on short-term debt financing or if its operating performance weakens.”

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