These companies enjoy some advantageous traits that help them survive the shockwave hit the Turkish economy, among them positive liquidity statuses and organised debt maturities, according to a report conducted by Moody’s Investors Service.
“Seven Turkish companies are rated one notch above the government's Ba3 bond ratings on the back of their market leader positions, material offshore revenues or revenues linked to hard currency, active currency risk-management policies, strong balance sheets, and healthy liquidity,” the report found.
Earlier in September, Fitch Ratings stated that the sharp plunge in the Turkish lira (TRY) will drive a move for rebalancing Turkey’s economy by lowering growth and trimming current account gap.
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