Vestel Elektronik Sanayi ve Ticaret A.Ş., as announced by Investing.com, has seen its long-term credit ratings reduced by Moody’s.
Reduced Credit Ratings
The company’s Long-Term Corporate Family Rating (CFR) dropped from “Caa1” to “Caa2.” Similarly, the Probability of Default Rating (PDR) was revised from “Caa1-PD” to “Caa2-PD.”
Garantied Long-Term Bills
Moreover, the company’s 2029 maturity, $500 million guaranteed and unsecured bonds, were downgraded from “Caa1” to “Caa2.” All ratings now carry a “Negative” outlook.
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