The international rating agency, Fitch, has assigned a senior unsecured foreign currency rating of ‘BB-’ (BB minus) to Aktif Finans Factoring and a senior unsecured local currency rating of ‘BB’. The company was also assigned a national rating of ‘BBB+(tur)’. These ratings are the first ever assigned to a factoring company in Turkey.
Aktif Finans Factoring A.S. (AFF) is one of the first two factoring companies to be established in Turkey. Originally a joint venture of four major banks, it was later acquired by Dogus Group (Fitch assigned a ‘BB minus’ rating to Dogus Holding on 23 November). The majority shareholder is Korfezbank and the company has nearly 35% of its shares floated on the Istanbul stock exchange.
