TÜRK TRAKTÖR VE ZIRAAT MAKINELERI
TürkTraktör Receiving the Highest Rating of AAA (Trk) on the Long-Term National Scale
TürkTraktör, the first manufacturer in the Turkish automotive industry, was granted the highest rating of AAA (Trk) on the long-term national scale by the international credit rating agency JCR Eurasia Rating. Thus, TürkTraktör has proved once again its financial power.
Stating that TürkTraktör had a successful year in 2021 adorned with record volumes in sales, exports, and production, Federico Pamfili, CFO at TürkTraktör, said: "The highest credit rating of AAA (Trk) on the long-term national scale granted by JCR Eurasia Rating is a recognition for the sound financial management, strong corporate governance practices, and high sustainability approach that we have implemented at TürkTraktör over the years. We maximized shareholder value through solid cash generation, efficiently managing all our levers and expanding our business domestically and internationally. I am pleased to announce the achievement of this important rating and I would like to extend my sincere thanks to everyone who has contributed to this achievement."
According to the evaluations of JCR Eurasia Rating, TürkTraktör received the rating of "A-1+ (Trk)" on the short-term national scale. Moreover, the long-term foreign and local currency rating of TürkTraktör was determined as "BB", and the short-term foreign and local currency rating as "B" while the outlook of the Company was evaluated as "Stable".
About JCR Eurasia Rating
JCR-ER is an international credit rating agency established in Tokyo, authorized by the Japanese FSA (Financial Services Agency) and recognized by the US SEC (Securities and Exchange Commission). It is also an institution authorized by ESMA (European Securities and Markets Authority).
JCR-ER's rating services cover a wide range of financial products such as medium- and long-term bonds, senior debts, and commercial bills.
Stating that TürkTraktör had a successful year in 2021 adorned with record volumes in sales, exports, and production, Federico Pamfili, CFO at TürkTraktör, said: "The highest credit rating of AAA (Trk) on the long-term national scale granted by JCR Eurasia Rating is a recognition for the sound financial management, strong corporate governance practices, and high sustainability approach that we have implemented at TürkTraktör over the years. We maximized shareholder value through solid cash generation, efficiently managing all our levers and expanding our business domestically and internationally. I am pleased to announce the achievement of this important rating and I would like to extend my sincere thanks to everyone who has contributed to this achievement."
According to the evaluations of JCR Eurasia Rating, TürkTraktör received the rating of "A-1+ (Trk)" on the short-term national scale. Moreover, the long-term foreign and local currency rating of TürkTraktör was determined as "BB", and the short-term foreign and local currency rating as "B" while the outlook of the Company was evaluated as "Stable".
About JCR Eurasia Rating
JCR-ER is an international credit rating agency established in Tokyo, authorized by the Japanese FSA (Financial Services Agency) and recognized by the US SEC (Securities and Exchange Commission). It is also an institution authorized by ESMA (European Securities and Markets Authority).
JCR-ER's rating services cover a wide range of financial products such as medium- and long-term bonds, senior debts, and commercial bills.
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Türk Traktör ve Ziraat Makineleri AS published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 13:10:06 UTC.
