Fund crisis triggers credit rating downgrades for 50 companies

Credit rating agency JCR Eurasia has downgraded 50 companies listed on Borsa Istanbul since September 16, 2026. The downgrades were driven by uncertainties surrounding fund liquidations, high debt levels, difficulties accessing financing, and bond repayment risks. While some companies faced rating cuts directly linked to fund investigations, others were downgraded due to declining sales revenues and weakening profitability.

Among companies affected by developments related to the fund crisis, Tera Yatırım's credit rating was lowered from A to CC before falling further to D, indicating default. Peker GYO's rating was cut from BBB to CC, Escar Filo's from A+ to B-, and Altınkılıç Gıda's from BBB+ to BB+. Financial difficulties also affected companies not directly connected to the fund crisis. Kale Seramik, Zorlu Enerji, Arzum, and Kayseri Şeker were among the companies that experienced credit rating downgrades. These developments highlighted the impact of liquidity problems in capital markets on corporate financial stability.