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ARCLK - Arcelik AS News Story

TRY32.8 0.0  0.0%

Last Trade - 07/05/21

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £1.93bn
Enterprise Value £2.73bn
Revenue £4.01bn
Position in Universe 21st / 645

Fitch Revises Arcelik to 'AAA(tur)'; Outlook Stable

Mon 29th July, 2019 1:03pm
(The following statement was released by the rating agency)


Fitch Ratings-Barcelona-July 29: 

Fitch has revised Turkish consumer goods manufacturer Arcelik A.S.'s National 
Long-Term Rating to 'AAA(tur)' from 'AA+(tur)'. The Outlook is Stable.The rating 
action follows the recalibration of the Turkish National Rating scale following 
the downgrade of the country's Long-Term Issuer Default Ratings to 'BB-'on 12 
July 2019.National scale ratings are a risk ranking of issuers in a particular 
market designed to help local investors differentiate risk. Turkey's national 
scale ratings are denoted by the unique identifier '(tur)'. Fitch adds this 
identifier to reflect the unique nature of the Turkish national scale. National 
scales are not comparable with Fitch's international rating scales or with other 
countries' national rating scales.

Key Rating Drivers

See "Fitch Affirms Arcelik at 'BB+'; Outlook Negative" dated 18 July 2019 for 
further details.

Arcelik; National Long Term Rating; Revision Rating; AAA(tur); RO:Sta

Contacts: 

Primary Rating Analyst

Cigdem Cerit, 

Director

+34 93 467 8840

Fitch Ratings Espana. S.A.U.

Av. Diagonal 601 

Barcelona 08028

Secondary Rating Analyst

Shrouk Diab, 

Associate Director

+971 4 424 1250

Committee Chairperson

Emmanuel Bulle, 

Senior Director

+34 93 323 8411

 

Media Relations: Adrian Simpson, London, Tel: +44 20 3530 1010, Email: 
adrian.simpson@thefitchgroup.com.

Additional information is available on www.fitchratings.com

Applicable Criteria 

Corporate Rating Criteria (pub. 19 Feb 2019)

https://www.fitchratings.com/site/re/10062582

Corporates Notching and Recovery Ratings Criteria (pub. 23 Mar 2018)

https://www.fitchratings.com/site/re/10024585

Non-Financial Corporates Exceeding the Country Ceiling Criteria (pub. 17 Jan 
2019)

https://www.fitchratings.com/site/re/10059284

Additional Disclosures 

Solicitation Status 

https://www.fitchratings.com/site/pr/10084155#solicitation

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https://www.fitchratings.com/regulatory

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