Turkish Airlines Inc. (THYAO) received a credit rating upgrade in the latest assessment report published by global credit rating agency Moody’s. The agency upgraded the company’s previous Ba3 credit rating by one level to Ba2. The outlook for Turkish Airlines was set as “Stable.”
Improvement in Certificate Ratings as Well
Moody’s also revised upward the rating assessments of certain financial instruments previously issued by Turkish Airlines.
The credit rating of the USD-denominated Enhanced Equipment Trust Certificates issued in 2015 was raised from Ba3 to Ba2.
The rating of the JPY-denominated Class A Enhanced Equipment Trust Certificates was upgraded from Ba2 to Ba1.
Boost to Investor Confidence
Moody’s rating upgrade is directly linked to Turkish Airlines’ operational strength, sustainable financial discipline, and robust performance. It is also expected to positively impact the company’s standing in global financial markets.
