Page 32 - TURKRptJun21

So far in 2021, 11 companies have raised a total of TRY6.6bn in IPOs (chart below by daily Sozcu).
On April 21, Dunya reported that to date this year 19 companies have raised an overall TRY4bn via rights issues on the Borsa Istanbul.
6.4 International ratings
TURKEY - Rating agency
Jun-18
Jul-18
Aug-18
Jun-19
Jul-19
Nov-19
Aug-20
Sep-20
Feb-21
Jun-21
Bond rating: Moody’s
Ba2 (UR)
Ba2 (UR)
Ba3
(N)
B1
(N)
B1 (N)
B1 (N)
B1 (N)
B2
(N)
B2 (N)
B2 (N)
Bond rating: Fitch
BBB- (S)
BB
(N)
BB (N)
BB (N)
BB-
(N)
BB- (S)
BB- (N)
BB- (N)
BB- (S)
BB- (S)
Bond rating: S&P
BB- (S)
BB- (S)
B+
(S)
B+ (S)
B+ (S)
B+ (S)
B+ (S)
B+ (S)
B+ (S)
B+ (S)
Fitch Ratings rates Turkey at BB-/Stable, three notches below investment grade. Moody’s Rating Services rates Turkey at B2/Negative, five notches below investment grade, while Standard & Poor’s has Turkey at B+/Stable, also four notches below investment grade.
32 TURKEY Country Report June 2021 www.intellinews.com