JCR Eurasia, which increased Turkey’s credit rating from BB(-) to BB(+) for overcoming the crisis without taking foreign financial aid and with the prediction of further increase international trust through a new stand-by agreement with the International Money Fund (IMF), announced that Çalık Holding’s long-term international foreign and international domestic currency ratings are increased from B+ to BB- with a positive outlook. Holding’s short-term international foreign and international domestic currency ratings (B) are determined with a “stable” outlook.

JCR Eurasia also raised the long-term foreign and domestic currency ratings of Aktif Bank, a subsidiary of Çalık Holding, by one notch, from BB- to BB, defining the outlook as “stable.”

The credit rating agency made positive evaluations about Çalık Holding by underlining that Holding employs approximately 20,000 workers in 12 countries with a wide of sectors as energy, finance, construction, textile, telecom and media. Thanks to its international partnerships with companies and a number of investment projects in strategic sectors, Çalık Holding is becoming an important player in the global arena, the statement noted.

Çalık Holding will raise the ability of creating cash resource in time by completing its long-term investments at strategic sectors such as energy and will reach a much more positive financial balance, JCR Eurasia said in the statement.

JCR Eurasia announced, Çalık Holding’s support rating, related to the ability of managing the risks undertaken in terms of self opportunities as “sufficient level”.