International credit rating agency Moody's Investor Services announced that, as a result of the placement of the Turkish sovereign rating under review for downgrade, together with other companies in similar position, credit ratings of Turkish Airlines have also been placed under review for downgrade. The initiation of a review shall not necessarily result in a downgrade in the credit ratings of our Incorporation.

Along with this, issue ratings of Turkish Airlines' Enhanced Equipment Trust Certificates (EETCs), which have been issued in 2015, have also been reviewed and as a result, USD denominated certificate was lowered to Baa2 from Baa1 and JPY denominated certificates were placed under review for a possible downgrade.

Moody's will make an assessment based on the business and financial profile of our Incorporation and the ultimate decision of Moody's will thereafter be disclosed to public.