S&P downgrades Vestel

S&P said it lowered its long-term issuer credit rating on Vestel Elektronik Sanayi Ve Ticaret AS to CCC+ from B-. The outlook is stable.

“The downgrade stems from Vestel's deteriorated liquidity position and higher debt, combined with Turkey's overall weaker macroeconomic environment,” S&P 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.