Fitch Ratings Downgrades Arcelik To 'BB+' Outlook Stable

ISTANBUL - International Credit Rating company Fitch Ratings revised the ratings of Arcelik A.S (Arcelik), a leading white goods manufacturer.
According to a statement issued from Arcelik to the Istanbul Stock Exchange on Monday, Fitch Ratings has downgraded Arcelik`s local currency Issuer Default rating (IDR) to `BB+` from `BBB-` (BBB minus) and National Long-term rating to `AA+(tur)` from `AAA(tur)`.
Fitch also removed the Rating Watch Negative status both of these ratings and brought a Stable Outlook in place.
Thus Arcelik`s foreign currency IDR of `BB` with Stable Outlook is affirmed.