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        On September 30, Moody's ​downgraded​Ronesans’ $300mn of senior unsecured notes due 2023 from B2 to B3/Negative,​taking the notes to six notches below investment grade.
On October 27, Fitch ​downgraded​Ronesans by one notch to B/Negative, five notches below investment grade.
   Global Ports Holding (GPH) has entered into a conditional sale and purchase agreement to sell Port Akdeniz​in Turkey’s Antalya to Qatar’s QTerminals. “A successful closing of the sale will be an important element of the Group' refinancing strategy for the $250mn ​eurobond​due November 2021,” GPH ​said.​
        Turkey Stock: Eurobonds (USD mn)
                 (Nominal Value)
Oct-9
end-2019
Change
(Market Value)
Oct-9
end-2019
Change
                         TOTAL
123,016
125,159
-2,143
TOTAL
118,153
125,682
-7,529
                             DOMESTIC HOLDERS
41,256
34,041
7,215
DOMESTIC HOLDERS
40,120
34,736
5,384
                             BANKS
22,926
21,133
1,794
BANKS
22,373
21,738
635
               NON-BANK SECTORS
18,329
12,908
5,421
NON-BANK SECTORS
17,747
12,998
4,749
                         Households
5,903
3,218
2,685
Households
5,670
3,237
2,433
                             Legal Entities
12,426
9,690
2,736
Legal Entities
12,077
9,761
2,316
                             NON-RESIDENT HOLDERS
81,760
91,117
-9,358
NON-RESIDENT HOLDERS
78,033
90,947
-12,914
                             Domestic Banks' Branches Abroad
6,965
6,654
311
Domestic Banks' Branches Abroad
6,875
6,858
16
               Other (Households + Legal Entities)
74,796
84,464
-9,668
Other (Households + Legal Entities)
71,159
84,089
-12,930
       35​ TURKEY Country Report​ November 2020 ​ ​www.intellinews.com
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