International Credit Agency Moody's has downgraded Turkish Airlines corporate family rating to Ba3 from Ba2 and maintained negative outlook on 19.08.2016. Along with the revision, Turkish Airlines' Enhanced Equipment Trust Certificates (EETCs) issue ratings have also been revised and both USD and JPY denominated Class A certificates were lowered to Baa1 from A3 and JPY denominated Class B certificates were lowered to Ba1 from Baa3 accompanied by negative outlook. You may find the related letters attached and on our website.