BANVİT BANDIRMA VİTAMİNLİ YEM SANAYİ A.Ş. Kredi Derecelendirmesi 21 Şubat 2025

Banvit Bandırma Vitaminli Yem Sanayii A.Ş. was evaluated by JCR Eurasia Rating as follows:

* Improvement in key profitability indicators thanks to effective cost management in the first 9 months of 2024,

*As of the first 9 months of 2024, being in a cash surplus position with a significant liquidity buffer in excess of financial liabilities,

*An advantageous cash conversion cycle that reduces external financing needs and supports operational efficiency,

* A strong equity structure supported by internal resources and reasonable equity contribution in asset financing as of the first nine months of 2024,

*Continued contribution to brand value by ranking among Turkey's top 1000 exporters and top 500 industrial enterprises,

*Established presence in the sector with an integrated production structure,

*Compliance with corporate governance practices as a publicly traded company,

*High competition in the poultry sector and the risk of poultry diseases despite effective biosecurity management,

*Potential fluctuations in sales due to sector-specific regulations,

*Global actions towards a soft landing gaining importance while decisions that may negatively impact global trade pose significant uncertainty.

In essence, within the scope of the above evaluations, Long Term National Corporate Credit Rating of Banvit Bandırma Vitaminli Yem San. A.Ş. has been revised from ‘AA- (tr)' to ‘AA (tr)', with all scores as follows :

Long Term National Corporate Credit Rating: AA (tr) / (Stable Outlook)

Short Term National Corporate Credit Rating: J1+ (tr) / (Stable Outlook)

Long Term International Foreign Currency Corporate Credit Rating: BB / (Stable Outlook)

Long Term International Local Currency Corporate Credit Rating: BB / (Stable Outlook)

NOTE: JCR AVRASYA DERECELENDİRME A.Ş. ratings are objective and independent opinions on the creditworthiness of a security and/or issuer and should not be considered as a recommendation to buy, hold, sell or extend credit for any security. Rating reports are valid for 1 year from the date of publication unless otherwise stated. The validity date of interim reviews may not exceed the validity date of the original report. 

This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.