Fitch downgrades several Turkish companies

The leading rating agency previously downgraded Turkey on its debt scale due to high inflation in the country.
Turkcell
The only Turkey based company listed on the New York Stock Exchange, Turkcell, is the leading mobile phone operator in Turkey. Its symbol is displayed at the closing bell of the exchange on Aug. 16, 2018. - BRYAN R. SMITH/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

Fitch Ratings downgraded the debt ratings of several Turkish companies today. 

Among those affected were the glass manufacturer Sisecam, the pension fund OYAK, the household appliances maker Arcelik, the telecommunication firms Turk Telecom and Turkcell, the real estate developer Emlak Konut, Pegasus Airlines, and a group of assets held by Turkish Airlines, Fitch said in a press release. 

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