RATINGS

Vestel's Ratings by Major Rating Agencies

	Fitch Ratings	Moody's Ratings	JCR
Issuer Credit Rating	B+	B3	A(tr)
Outlook	Positive	Stable	Stable
Senior Unsecured Debt Rating	B+	B3

Rating Reports

Fitch's Press Release, 31 May 2024

Moody's Press Release, 1 May 2024

JCR Eurasia Rating’s Press Release, November 29, 2023

JCR Eurasia Rating’s Press Release, November 29, 2022

JCR Eurasia Rating’s Press Release, 30 November 2021

JCR Eurasia Rating’s Press Release, 18 December 2020

S&P’s Press Release, 17 April 2020

S&P’s Press Release, 10 April 2020

JCR Eurasia Rating’s Press Release, December 2019

S&P’s Press Release, September 2018

S&P’s Press Release, September 2017

S&P’s Press Release, February 2017

S&P’s Press Release, September 2016

S&P's Press Release, September 2015

S&P's Press Release October 2014

S&P's Press Release, November 2012

Moody's Press Release, June 2012

Fitch Ratings Press Release, February 2012

Moody's Press Release, February 2012

S&P's Press Release, January 2012

Fitch Ratings Press Release, February 2011

Fitch Ratings Press Release, June 2010

S&P's Research Update, February 2010

Fitch Ratings Press Release, September 2009

Moody's Credit Opinion, July 2009

S&P's Research Update, December 2008

Moody's Press Release, October 2008

Fitch Ratings Press Release, September 2008

Moody's Press Release, January 2008

S&P's Research Update, December 2007

Moody's Press Release, December 2007

Fitch Ratings Press Release, August 2007

S&P's Research Update, June 2007

Moody's Press Release, June 2007

S&P's Research Update, January 2007

Fitch Ratings Press Release, December 2006

Fitch Ratings Credit Update, September 2006

Moody's Leveraged Credit Analysis, May 2006

Moody's Global Credit Research, May 2006

S&P's Research Update, September 2005

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