11.05.2022 - Moody's Credit Rating

On 10.05.2022, international credit agency Moody's affirmed corporate family rating (CFR) of Turkish Airlines as `B3' and revised the outlook from negative to stable based on improving operating metrics and demand. Moody's also affirmed the rating assigned to Turkish Airlines' USD-denominated Enhanced Equipment Trust Certificate (EETC), which has been issued in 2015, as `B2' and revised its outlook from negative to stable. Additionally, the credit rating agency downgraded the rating of the JPY-denominated Class A Enhanced Equipment Trust Certificate (EETC) to B1 from Ba3, positioning it one notch above the country foreign currency rating ceiling.