Fitch affirms Pegasus' credit ratings
Fitch Ratings has affirmed Pegasus Hava Taşımacılığı A.Ş.'s (Pegasus) Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) at 'BB-'. The outlook for the IDRs remains 'stable'.
Fitch stated that the Foreign Currency (FC) IDR exceeds Turkey's 'B+' Country Ceiling by one notch due to Pegasus' high share of foreign currency revenue and easily accessible foreign currency liquidity.
The statement noted, "The ratings take into account Pegasus' strong growth prospects, young and fuel-efficient fleet, industry-leading cost base, and strong market position in Turkey (B+/Positive) with easily accessible foreign currency liquidity. The ratings also reflect the execution risk inherent in its debt-funded growth strategy, a volatile but improving operating environment that includes foreign exchange (FX) risk, and its smaller size compared to many peers."
News Source: 12punto
Most Read
Historic words from Özgür Özel at the CHP group meeting
Air Force Academy student Veli Bilgin has died
Tuncer Bakırhan calls for a framework law
How did the newspapers view Özgür Özel's farewell to the CHP?
Here are the names that will be in Özgür Özel's new party!
He killed his wife by slitting her throat: Their children witnessed the moments
Major crisis in CHP
AKP mayor held responsible
Kılıçdaroğlu's 'controlled' shopkeeper visit
Güler leaves questions regarding Özgür Özel unanswered