|  | 
Fitch | 
S&P Global Ratings | 
| Last update | 
4 August 2025 | 
14 November 2024 | 
| Long-Term Local Currency IDR | 
BB | 
BB | 
| Long-Term Foreign Currency IDR | 
BB- | 
BB | 
| Outlook | 
Stable | 
Stable | 
| National Long Term Rating | 
AAA(tur) | 
  | 
             
                
                    
                        
                        
                            
| Fitch Ratings | 
| Date | 
Rating (Long-Term Foreign Currency IDR) | 
Outlook | 
| 4 August 2025 | 
BB- | 
Stable | 
| 18 September 2024 | 
BB- | 
Stable | 
| 18 March 2024 | 
B+ | 
Positive | 
| 7 November 2023 | 
B | 
Stable | 
| 18 September 2023 | 
B | 
Stable | 
| 10 November 2022 | 
B | 
Negative | 
| 18 July 2022 | 
B | 
Negative | 
| 31 March 2022 | 
B+ | 
Negative | 
| 18 February 2022 | 
B+ | 
Negative | 
| 9 December 2021 | 
BB- | 
Negative | 
| 17 November 2021 | 
BB- | 
Stable | 
| 1 March 2021 | 
BB- | 
Stable | 
| 20 November 2020 | 
BB- | 
Negative | 
| 28 August 2020 | 
BB- | 
Negative | 
| 08 November 2019 | 
BB- | 
Stable | 
| 18 July 2019 | 
BB- | 
Negative | 
| 10 January 2019 | 
BB+ | 
Negative | 
| 19 July 2018 | 
BB+ | 
Negative | 
| 18 September 2017 | 
BBB- | 
Negative | 
| 1 February 2017 | 
BBB- | 
Negative | 
| 25 August 2016 | 
BBB- | 
Negative | 
| 27 June 2016 | 
BBB- | 
Stable | 
| 30 June 2015 | 
BBB- | 
Stable | 
| 3 June 2014 | 
BBB- | 
Stable | 
 
                         
                     
                 
                
                    
                        
                        
                            
| S&P Global Ratings | 
| Date | 
Rating | 
Outlook | 
| 14 November 2024 | 
BB | 
Stable | 
| 23 May 2024 | 
BB- | 
Positive | 
| 7 May 2024 | 
B+ | 
Positive | 
| 13 December 2023 | 
B | 
Positive | 
| 4 October 2023 | 
B | 
Stable | 
| 3 April 2023 | 
B | 
Negative | 
| 5 October 2022 | 
B | 
Stable | 
| 8 April 2022 | 
B+ | 
Negative | 
| 15 December 2021 | 
BB- | 
Negative | 
| 15 March 2021 | 
BB- | 
Stable | 
| 14 February 2019 | 
BB- | 
Stable | 
| 12 December 2018 | 
BB- | 
Stable | 
| 28 August 2018 | 
BB- | 
Stable | 
| 8 May 2018 | 
BB+ | 
Stable | 
| 22 December 2017 | 
BBB- | 
Negative | 
| 10 August 2017 | 
BBB- | 
Negative | 
| 1 February 2017 | 
BBB- | 
Negative | 
| 10 November 2016 | 
BBB- | 
Stable | 
| 19 August 2016 | 
BBB- | 
Negative | 
| 22 July 2016 | 
BBB- | 
Negative | 
| 11 May 2016 | 
BBB- | 
Stable | 
| 10 August 2015 | 
BBB- | 
Negative | 
| 24 July 2014 | 
BBB- | 
Negative | 
| 4 June 2014 | 
BB+ | 
Positive | 
 
                         
                     
                 
                
                    
                        
                        
                            
|   | 
S&P Global Ratings | 
Moody's | 
Fitch | 
| 01.11.2024 | 
BB- (stable) | 
  | 
  | 
| 06.09.2024 | 
  | 
  | 
BB- (stable) | 
| 19.07.2024 | 
  | 
B1 (positive) | 
  | 
| 03.05.2024 | 
B+ (positive) | 
  | 
  | 
| 08.03.2024 | 
  | 
  | 
B+ (positive) | 
| 12.01.2024 | 
  | 
B3 (positive) | 
  | 
| YE 2023 | 
B (positive) | 
B3 (stable) | 
B (stable) | 
| 30.11.2023 | 
B (positive) | 
  | 
  | 
| 29.09.2023 | 
B (stable) | 
  | 
  | 
| 08.09.2023 | 
  | 
  | 
B (stable) | 
| 31.03.2023 | 
B (negative) | 
  | 
  | 
| YE 2022 | 
B (stable) | 
B3 (stable) | 
B (negative) | 
| 30.09.2022 | 
B (stable) | 
  | 
  | 
| 12.08.2022 | 
  | 
B3 (stable) | 
  | 
| 08.07.2022 | 
  | 
  | 
B (negative) | 
| 11.02.2022 | 
  | 
  | 
B+ (negative) | 
| YE 2021 | 
B+ (negative) | 
B2 (negative) | 
BB- (negative) | 
| 10.12.2021 | 
B+ (negative) | 
  | 
  | 
| 2.12.2021 | 
  | 
  | 
BB- (negative) | 
| 19.02.2021 | 
  | 
  | 
BB- (stable) | 
| YE 2020 | 
B+ (stable) | 
B2 (negative) | 
BB- (negative) | 
| 11.09.2020 | 
  | 
B2 (negative) | 
  | 
| 21.08.2020 | 
  | 
  | 
BB- (negative) | 
| 21.02.2020 | 
  | 
  | 
BB- (stable) | 
| YE 2019 | 
B+ (stable) | 
B1 (negative) | 
BB- (stable) | 
| 01.11.2019 | 
  | 
  | 
BB- (stable) | 
| 12.07.2019 | 
  | 
  | 
BB- (negative) | 
| 14.06.2019 | 
  | 
B1 (negative) | 
  | 
| YE 2018 | 
B+ (stable) | 
Ba3 (negative) | 
BB (negative) | 
| 17.08.2018 | 
B+ (stable) | 
Ba3 (negative) | 
BB (negative) | 
| 13.07.2018 | 
  | 
  | 
BB (negative) | 
| 01.05.2018 | 
BB- (stable) | 
  | 
  | 
| 07.03.2018 | 
  | 
Ba2 (stable) | 
  | 
| YE 2017 | 
BB(negative) | 
Ba1 (negative) | 
BB+ (stable) | 
| 17.03.2017 | 
  | 
Ba1 (negative) | 
  | 
| 27.01.2017 | 
BB(negative) | 
  | 
BB+(stable) | 
| YE 2016 | 
BB (stable) | 
Ba1 (stable) | 
BBB (negative) | 
| 04.11.2016 | 
BB(stable) | 
  | 
  | 
| 23.09.2016 | 
  | 
Ba1 (stable) | 
  | 
| 19.08.2016 | 
  | 
  | 
BBB -(negative) | 
| 20.07.2016 | 
BB (negative) | 
  | 
  | 
| 06.05.2016 | 
BB+ (stable) | 
  | 
  | 
| YE 2015 | 
BB+ (negative) | 
Baa3 (negative) | 
BBB- (stable) | 
| YE 2014 | 
BB+ (negative) | 
Baa3 (negative) | 
BBB- (stable) | 
| 11.04.2014 | 
  | 
Baa3 (negative) | 
  | 
| 07.02.2014 | 
BB+ (negative) | 
  | 
  | 
| YE 2013 | 
BB+ (stable) | 
Baa3 (stable) | 
BBB- (stable) | 
| 24.10.2013 | 
  | 
  | 
BBB- (stable) | 
| 16.05.2013 | 
  | 
Baa3 (stable) | 
  | 
| 27.03.2013 | 
BB+ (stable) | 
  | 
  | 
| YE 2012 | 
BB (stable) | 
Ba1 (positive) | 
BBB- (stable) | 
| 05.11.2012 | 
  | 
  | 
BBB- (stable) | 
| 20.06.2012 | 
  | 
Ba1 (positive) | 
  | 
| 01.05.2012 | 
BB (stable) | 
  | 
  | 
| YE 2011 | 
BB (positive) | 
Ba2 (positive) | 
BB+ (stable) | 
| 23.11.2011 | 
  | 
  | 
BB+ (stable) | 
| YE 2010 | 
BB (positive) | 
Ba2 (positive) | 
BB+ (positive) | 
| 24.11.2010 | 
  | 
  | 
BB+ (positive) | 
| 05.10.2010 | 
  | 
Ba2 (positive) | 
  | 
| 19.02.2010 | 
BB (positive) | 
  | 
  | 
| 08.01.2010 | 
  | 
Ba2 (stable) | 
  | 
| YE 2009 | 
BB- (stable) | 
Ba3 (positive) | 
BB+ (stable) | 
| 03.12.2009 | 
  | 
  | 
BB+ (stable) | 
| 18.09.2009 | 
  | 
Ba3 (positive) | 
  | 
| 17.09.2009 | 
BB- (stable) | 
  | 
  | 
| YE 2008 | 
BB- (negative) | 
Ba3 (stable) | 
BB- (stable) | 
| 13.11.2008 | 
BB- (negative) | 
  | 
  | 
| 31.07.2008 | 
BB- (stable) | 
  | 
  | 
| 03.04.2008 | 
BB- (negative) | 
  | 
  | 
| YE 2007 | 
BB- (stable) | 
Ba3 (stable) | 
BB- (stable) | 
| 10.05.2007 | 
  | 
  | 
BB- (stable) | 
| YE 2006 | 
BB- (stable) | 
Ba3 (stable) | 
BB- (positive) | 
| 27.06.2006 | 
BB- (stable) | 
  | 
  | 
| 23.01.2006 | 
BB- (positive) | 
  | 
  | 
| YE 2005 | 
BB- (stable) | 
Ba3 (stable) | 
BB- (positive) | 
| 14.12.2005 | 
  | 
Ba3 (stable) | 
  | 
| 06.12.2005 | 
  | 
  | 
BB- (positive) | 
| 11.02.2005 | 
  | 
B1 (positive) | 
  | 
| 13.01.2005 | 
  | 
  | 
BB- (stable) | 
| YE 2004 | 
BB- (stable) | 
B1 (stable) | 
B+ (positive) | 
 
                         
                     
                 
            It shall be noted that these ratings can be revised, suspended or removed by the respective rating agency at any time.