Turkish Airlines (THY) has once again renewed confidence on the international stage. Credit rating agency Fitch Ratings has upgraded the credit rating of the USD-denominated Equipment Trust Enhanced Certificates issued by THY in 2015, from BB to BB+.
Fitch’s decision is seen as a reflection of Turkish Airlines’ stable growth performance and its strong position in the global aviation sector. This rating upgrade, which is a positive signal for investors, also indicates that THY has a sustainable financial structure in the long term.
Why Was the Credit Rating Upgraded?
Fitch attributed the rating upgrade to THY’s strong operational performance, increased profitability, and disciplined approach to debt management. As of 2023, the company swiftly recovered post-pandemic and further strengthened its financial structure. THY’s investments in its fleet, operational efficiency, and global expansion also contributed to this upgrade.
