JCR Eurasia Rating has upgraded the Long Term National rating to ‘BBB (Trk)’ from ‘BBB-(Trk)’ while assigning ‘Stable’outlooks for all grades of GYH and its subsidiaries
01 October 2013
In the statement made by JCR Eurasia Rating, it is stated that during the last decade when GYH has been restructured as a holding company, it has expanded its internal resource generation capacity through the sale of assets, has reached a sustainable income and has achieved profitability in 2012 via diversified revenue streams supported by the Company’s various sectors, particularly geographically well located and an unbeatable position of the ports. The Company’s long-term projection is also affected positively by adding new ports abroad and planning activation and/or establishment of thermal power plants, all of which contribute positively towards the rating upgrade.
According to the statement, taking into consideration the dominant shareholders’ financial strength and desire to support the Company, the scale of the Company, planned projects and sectorial expansion, GYH’s Sponsor Support grade has been upgraded to (2), denoting an adequate level. The Stand Alone grade of the Company has been also upgraded to (B) considering the ability of the Company to manage its undertaken incurred risks, internal resource generation and current level of capitalization.
The details of the revised ratings are provided in the tables below:
| Global Yatırım Holding A.Ş. | Istanbul – September 30, 2013 |
| Long Term International Foreign Currency | BBB- / (Stable Outlook) |
| Long Term International Local Currency | BBB- / (Stable Outlook) |
| Long Term National Local Rating | BBB- (Trk) / (Stable Outlook) |
| Short Term International Foreign Currency | A – 3 / (Stable Outlook) |
| Short Term International Local Currency | A – 3 / (Stable Outlook) |
| Short Term National Local Rating | A-3 (Trk) / (Stable Outlook) |
| Sponsor Support | 2 |
| Stand Alone | B |
www.globalyatirim.com.tr
For Detailed İnformation
investor@global.com.tr
About GIH
Global Yatırım Holding A.Ş. (Global Investment Holdings) was regrouped as a holding company on October 2004 (www.globalyatirim.com.tr) to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. Global Investment Holdings is listed on Borsa Istanbul (as GLYHO.IS) and utilizes its experience in the finance sector for industrial business opportunities.
