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The Credit Rating Agency JCR Eurasia Rating has evaluated the consolidated structure of Kardemir and Its Subsidiaries and the "Cash Flows Relating to the Prospective Bond Issues" in a high-level investment-grade category and affirmed the ratings as "A+(Trk)/Stable" on the Long Term National Scale and as "A -1 Stable / (Trk) on the Short Term National Scale. On the other hand, the Long Term International Foreign and Local Currency Ratings have been assigned as "BB+/Negative" in line with the latest assessment of Japan Credit Rating Agency Ltd dated April 10,2020. Other notes and details of the ratings are given on the below table: Long Term International Foreign Currency : BB+/ (Negative Outlook) Long Term International Local Currency : BB+/ (Negative Outlook) Long Term National Local Rating : A+ (Trk) / (Stable Outlook) Long Term International Issue Rating : n.a. Long Term National Issue Rating : A+ (Trk) Short Term International Foreign Currency : B / (Negative Outlook) Short Term International Local Currency : B / (Negative Outlook) Short Term National Local Rating : A-1 (Trk) / (Stable Outlook) Short Term International Issue Rating : n.a. Short Term National Issue Rating : A-1 (Trk) Sponsor Support : 2 Stand Alone : AB Respectfully Submitted. This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail. |
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.