EACRA

JCR Eurasia Rating, by assessing “Sur Yapı Endüstri Sanayi ve Ticaret A.Ş.,Real Estate Development and Energy Companies” in its periodic review, has upgraded its credit rating to ‘BBB+ (Trk)’ from ‘BBB (Trk)’ on the Long Term National Scale along with ‘Stable’ outlooks for all notes. The Long Term International Foreign and Local Currency ratings were affirmed as ‘BBB-’. Other notes and details of the ratings are given in the table below.

Long Term International Foreign Currency

:

BBB- /(Stable Outlook)

Long Term International Local Currency

:

JCR Eurasia Rating maintains its evaluation of Rönesans Holding A.Ş.’s consolidated structure and the “Cash Flows of the Bond Issuances” within the scope of periodic review and affirmed its high investment grade credit rating of “AA- (Trk)” on the Long Term National Scale with a “Stable” outlook. Long Term International Foreign and Local Currency ratings are affirmed as “BBB-” with “Stable” outlooks. The credit ratings and their details are given in the table below:

Long Term International Foreign Currency

:

BBB- / (Stable outlook)

JCR Eurasia Rating has upgraded the Long Term National credit rating of “Akdeniz Faktoring A.Ş. and the Cash Flows on Bond Issues” to “A (Trk)/Stable”. The Long Term International Foreign and Local Currency rating and outlooks have been affirmed as “BBB-/Stable”. Details of the ratings are given in the table below.

Long Term International Foreign Currency

:

BBB-/ (Stable Outlook)

Long Term International Local Currency

:

BBB-/ (Stable Outlook)

Long Term National Local Rating

:

A (Trk) / (Stable Outlook)

JCR Eurasia Rating, in its periodic review, has evaluated ‘Eko Faktoring A.Ş.’ in an investment-level category on the national and international scales and affirmed the ratings on the Long Term National Scale as ‘BBB (Trk)’ and determined the Short Term National Scale as ‘A-3 (Trk)’ with ‘Stable’ outlooks. Additionally, JCR Eurasia Rating has affirmed the Long Term International Foreign and Local Currency Ratings as ‘BBB-’. Other notes and details of the ratings are provided below:

Long Term International Foreign Currency

:

BBB-/ (Stable Outlook)

JCR Eurasia Rating, in its periodic review, has affirmed the credit ratings of the “Consolidated Structure of Metal Yapı Konut A.Ş.’ at the investment grade of “BBB(Trk)/Stable” on the Long Term National Scale. In addition, JCR Eurasia Rating has affirmed the Long Term International Foreign and Local Currency Scale as ‘BBB-’. Other notes and details of the ratings are given in the table below:

Long Term International Foreign Currency Rating

:

BBB- / (Stable Outlook)

Long Term International Local Currency Rating

:

BBB- / (Stable Outlook)

JCR Eurasia Rating has revised the credit ratings of “Çağdaş Faktoring A.Ş.” and “Cash Flows of the Bond Issuances” within the scope of periodic review and affirmed the high investment grade ratings as “A- (Trk)/Stable” Long Term National Scale. The details of the affirmed ratings are listed in the table below:

Long Term International Foreign Currency

:

BBB- / (Stable Outlook)

Long Term International Local Currency

:

BBB-/ (Stable Outlook)

Long Term National Local Rating

:

A- (Trk) / (Stable Outlook)

JCR Eurasia Rating has affirmed the rating of ‘AAA (Trk)’ along with a ‘Stable’ outlook for Turkiye Garanti Bankasi A.S. on the Long Term National Scale, which denotes the highest credit rating grade assigned by the agency. On the other hand, the Long Term International Foreign and Local Currency ratings were affirmed as ‘BBB’ and ‘BBB+’, respectively. Other notes and details of the ratings are given in the table below:

Long Term International Foreign Currency

:

BBB /(Stable Outlook)

Long Term International Local Currency

:

JCR Eurasia Rating has evaluated and upgraded the Long Term National and Short Term National credit ratings of Tam Faktoring A.Ş. to “BBB+ (Trk)” and “A-2 (Trk)”, respectively and revised the Long Term outlook to “Positive”. The Long Term International Foreign and Local Currency rating and outlooks have been affirmed as “BBB-/Stable”. Details of the ratings are given in the table below.

Long Term International Foreign Currency

:

BBB-/ (Stable Outlook)

Long Term International Local Currency

:

BBB-/ (Stable Outlook)

JCR Eurasia Rating has reviewed and affirmed the investment grade credit ratings of “Fiba Faktoring A.Ş.” and the “Cash Flows of its Debt Instrument Issuances” as ‘A+ (Trk) on the Long Term National Scale and as ‘A-1 (Trk)’ on the Short Term National Scale, and assigned ‘Positive’ outlooks for the National grades. On the other hand, the Long Term International Foreign and Local Currency Ratings have been affirmed at the country ceiling level of ‘BBB-’. Other notes and details of the ratings are given in the table below:

JCR Eurasia Rating, Aksa Akrilik Kimya Sanayii A.Ş. ve konsolide yapısını yüksek düzeyde yatırım yapılabilir kategoride değerlendirerek Uzun Vadeli Ulusal Notunu “AA (Trk)”, görünümünü ise “Stabil” olarak belirlemiştir. Uzun Vadeli Uluslararası Yabancı ve Yerel Para Not ve görünümler ise ülke tavanı olan “BBB-” ve “Stabil” olarak belirlenmiştir. Tüm notlar ve detaylarına aşağıda yer verilmiştir.

Uzun Vadeli Uluslararası Yabancı Para Notu

:

BBB- / (Stabil görünüm)

Uzun Vadeli Uluslararası Yerel Para Notu

:

BBB- / (Stabil görünüm)