Turkey: Fitch Ratings gives a positive �BB� outlook to Anadolu Efes�s IDR

Fitch Ratings, the international rating agency, has affirmed the local currency senior unsecured and Issuer Default ratings ("IDR") of Anadolu Efes Biracilik ve Malt Sanayii A.S ("Anadolu Efes") at 'BB+' and the National Long-term rating at ‘AA’. The Outlooks on both the local currency IDR and National rating are Stable. Fitch also affirmed the foreign currency IDR of Anadolu Efes at 'BB' with a Positive Outlook.

Our foreign currency IDR is one notch higher than the sovereign rating, while our local currency IDR is two notches above the sovereign rating.