Arcelik AS (ARCLK.IS)
23 Jul 2017
(The following statement was released by the rating agency) BARCELONA/LONDON, June 22 (Fitch) Fitch Ratings has affirmed Arcelik A.S.'s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BB+' and National Long-Term rating at 'AA(tur)'. The Outlooks are Stable. Fitch has also affirmed Arcelik's senior unsecured rating at 'BB+'. The affirmation reflects Fitch's expectation that Arcelik will maintain FFO adjusted net leverage below 1.5x in the medium term despite increased expa
* A JOINT VENTURE AGREEMENT HAS BEEN SIGNED BETWEEN WHOLLY-OWNED SUBSIDIARY ARDUTCH BV, PARENT COMPANY KOÇ HOLDING AND; VOLTAS LIMITED AND TATA INVESTMENT CORPORATION LIMITED, TATA GROUP COMPANIES BASED IN INDIA,
ISTANBUL, May 3 A partnership of Turkish white-goods maker Arcelik and LG Klima will produce commercial air conditioners with the LG brand, extending their agreement until 2023, it said on Wednesday.
* Q1 net profit of 240.3 million lira ($67.15 million) versus 155.7 million lira year ago
* S&P has affirmed Arcelik's corporate credit rating as BB+ and outlook as stable
LONDON Arcelik , the home appliances arm of Turkey's biggest industrial conglomerate Koc Holding , is working on acquisitions to speed up its international expansion, particularly in Asia, its chief executive said on Monday.
* Said on Monday that proposes gross 0.63 lira ($0.1735) net 0.535 lira per share dividend for FY 2016
* Sees white goods market volume growth in Turkey at 3 percent and 2 percent international markets