Credit FAQ: What Could Turkey's Investment-Grade Status Mean For Turkish Corporate Credit Ratings? Nov 11
Standard & Poors, November 2011
Abstract
Standard & Poor's Ratings Services recently raised its long-term local currency sovereign rating on the Republic of Turkey to investment grade. The rating is now 'BBB-' with a positive outlook. The long-term foreign currency rating remains 'BB', also carrying a positive outlook, and the transfer and convertibility (T&C) risk assessment remains 'BBB-'. Standard & Poor's has received several questions from investors and market participants about the potential implications of the sovereign upgrade on Turkish corporate ratings. Here, we answer their questions (watch the related CreditMatters TV segment titled "What Does Turkey's Investment Grade Rating Mean For Turkish Corporates-" dated Nov. 15, 2011). Many of them are. Generally, the factors that we consider positive for our sovereign ratings, such as a...
Companies mentioned in this report are:
- Turkcell Iletisim Hizmetleri A.S.
- Vestel Elektronik Sanayi Ve Ticaret A.S.
- Eregli Demir ve Celik Fabrikalari T.A.S.
- OYAK (Ordu Yardimlasma Kurumu)
- Anadolu Efes Biracilik ve Malt Sanayii AS
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Turkcell Iletisim Hizmetleri A.S.
- Vestel Elektronik Sanayi Ve Ticaret A.S.
- Eregli Demir ve Celik Fabrikalari T.A.S.
- OYAK (Ordu Yardimlasma Kurumu)
- Anadolu Efes Biracilik ve Malt Sanayii AS
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