High Grade to Kardemir from Credit Rating Agency

High Grade from Credit Rating Agency to Kardemir: Credit rating agency JCR Eurasia Rating evaluates the consolidated structure of Kardemir and its subsidiaries and the cash flows of ongoing bond issues in the periodic review process, and its Long-Term National Rating is 'A (Trk) / Positive', It affirmed the Long Term International Foreign Currency Rating as “BBB- (Trk) / Stable”.

In its evaluation, the rating institution provides cost control by meeting a significant part of the energy needs of our company, the continuation of the strong demand of the construction sector, the start of high value-added product sales, the protection of the asset quality, the protection of continuous cash flow, decreasing investment costs, institutionalization and corporate culture, and stable management staff. He stated that Kardemir played an active role in affirming the outlook of the Short and Long Term National Ratings as well as the Long Term National Rating as "Positive".

The height of the grades revealed the strong financial and institutional structure of Kardemir.

The notes are shown below with details:

Long Term International Foreign Currency: BBB- / (Stable Appearance)
Long Term International Local Currency Note: BBB- / (Stable Appearance)
Long-Term National Rating: A (Trk) / (Positive Outlook)
Long-term Issuer Rating: A (Trk)
Short Term International Foreign Currency: A-3 / (Stable Appearance)
Short-Term International Local Currency Note: A-3 / (Stable Appearance)
Short-Term National Rating: A-1 (Trk) / (Stable View)
Short-Term Issuance Rating: A-1 (Trk)
Support Note: 2
Partnerships for Independence: EU

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