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Hayır (No)
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11.09.2017
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Hayır (No)
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Announcement on Moody's Rating Decision
Moody's downgraded Coca-Cola İçecek A.Ş.'s (CCI) long-term rating to Ba1 from Baa3 on March 9, 2018. The outlook on the rating was changed to "stable" from "negative". The rating action was prompted by Moody's recent decision to downgrade Turkey's government issuer rating to Ba2 from Ba1 on March 7, 2018.
Based on Moody's assesment, CCI's Ba1 corporate family rating is one notch above Turkey's government bond rating, and reflects the high dependence on its Turkish operations for revenue and cash flow generation, while recognizing the investment grade financial profile and market leadership position of CCI and significant cash balances, with a majority deposited in the domestic banking system.
Further information related to credit ratings is available on our website, www.cci.com.tr. We hereby declare that our above statements are in conformity with the principles included in the Capital Markets Board's Communiqué on Material Events, that they fully reflect the information we have acquired, that the information complies with our books, records and documents, that we have made our best effort to fully and accurately obtain all information regarding the matter and that we are responsible for this disclosure made hereby.
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We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.