Turkey-Based Glass Manufacturer Sisecam Assigned ‘BB+/B’ Ratings; Outlook Stable

Date: 29 April 2013

- Turkey-based glass producer Turkiye Sise ve Cam Fabrikalari A.S. (Sisecam) benefits from leading market positions in Turkey and growing geographic diversification.

Sisecam has ambitious international expansion plans that will be supported by increased capital expenditure (capex).

- We assess the group's financial risk profile as "intermediate" and its business risk profile as "fair."

- We are assigning our 'BB+' long-term local and foreign currency ratings and 'B' short-term global scale rating to Sisecam.

- At the same time, we are assigning our 'BB+' issue rating to Sisecam's $500 million (about Turkish lira [TRY] 895 million) proposed unsecured notes.

- The stable outlook reflects our view that Sisecam's leading market positions in Turkey and its ambitious global expansion plans, including heavy capex, will support credit metrics commensurate with the ratings over the next 12-24 months.

See more news about:

Sisecam

WhatsApp LINKEDIN FACEBOOK X PRINT MORE

Others also read

MORE...

Şişecam brought together its business partners at the Global Supplier Summit

Şişecam, celebrating its 90th anniversary this year, came together with its business partners at the Şişecam Global Supplier Summit.

Şişecam’s net sales amounted to 45 billion TRY in the first three months of the year

Şişecam a global player in its sector, achieved consolidated net sales of TRY 45 billion in the first three months of 2025.

Şişecam Appoints Can Yücel as New CEO

Şişecam has announced the appointment of Can Yücel as its new CEO, following a Board of Directors meeting held on April 30, 2025. Yücel succeeds Mustafa Görkem Elverici, who has stepped down from the role.

Şişecam Participates in Intersolar 2025

At Intersolar 2025, Şişecam will focus on sustainable energy solutions, showcasing its innovative approach to the sector with its Şişecam Charger by ML System glass technologies and high-efficiency solar glass products.