Formula Plastic's National Credit Rating Upgraded to A+

Forex - The international credit rating agency JCR - Eurasia Rating has confirmed Formül Plastik's 'Long-Term National Institutional Credit Rating' at A+ (tr). Ömer Hot, a board member of Formül Plastik, stated, “With our high level of export-oriented sales that provide a natural hedge against currency risk, along with our stable profit margins, we aim to maintain this financial outlook, achieved through our investments focused on strengthening growth and market position, in the upcoming period.”

Formül Plastik, which manufactures PPR pipes and fittings, PVC pipes and fittings, PERT pipes, and brass inserts and connectors in its modern factories in Veliköy and Çerkezköy, exports to over 90 countries across five continents, drawing attention with its high national credit rating. JCR - Eurasia Rating has confirmed Formül Plastik’s 'Long-Term National Institutional Credit Rating' at A+ (tr). The company's Short-Term National Institutional Credit Rating is J1 (tr), while its Long-Term International Foreign Currency Institutional Credit Rating is BB, and Long-Term International Local Currency Institutional Credit Rating is also BB.

Sustainable sales revenue supported by exports
Ömer Hot stated that the sustainable growth in sales revenue supported by export sales has been effective in achieving the successful financial outlook obtained from the assessment conducted by JCR - Eurasia Rating. Expressing that the company’s long-standing industry experience and comprehensive operational history played a significant role in this success, Hot added, “With our high level of export-oriented sales that provide a natural hedge against currency risk, along with our stable profit margins, we aim to maintain this financial outlook, achieved through our investments focused on strengthening growth and market position, in the upcoming period.”