CREDIt RAtING OF ANADOLU EFES

Anadolu Efes Biracılık ve Malt Sanayii Anonim Şirketi
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2010
(Currency - Unless otherwise indicated thousands of Turkish Lira (TRL))
NOTE 38. NATURE AND LEVEL OF RISKS ARISING FROM FINANCIAL INSTRUMENTS (continued)
c) Liquidity Risk (continued)
The table below summarizes the maturity profile of the Group’s financial liabilities on the consolidated balance
sheet as of December 31, 2010 and 2009;
2010
210
Carrying
value
Contractual
undiscounted
payment
(=I+II+III+IV)
Less than
3month (I)
Between
3-12
month (II)
Between
1-5 year
(III)
More
than
5 year
(IV)
Financial Liabilities 1.764.496 1.822.992 454.346 556.589 812.057 -
Trade Payable and due to related
261.978 261.978 221.390 38.678 1.910 -
parties
Liability for put option 128.113 128.113 - 126.279 1.834 -
2009
2.154.587 2.213.083 675.736 721.546 815.801 -
Carrying
value
Contractual
undiscounted
payment
(=I+II+III+IV)
Less than
3month (I)
Between
3-12
month (II)
Between
1-5 year
(III)
More
than 5
year
(IV)
Financial Liabilities 1.857.385 1.939.770 689.223 270.582 979.965 -
Trade Payable and due to related
249.875 249.902 203.607 41.152 5.143 -
parties
Liability for put option 92.210 92.210 - - 92.210 -
d) Price Risk
2.199.470 2.281.882 892.830 311.734 1.077.318 -
This is a combination of currency, interest and market risks which the Group manages through natural hedges
that arise from offsetting the same currency receivables and payables, interest bearing assets and liabilities.
Market risk is closely monitored by the management using the available market information and appropriate
valuation methods.
e) Credit Risk
Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the
other party to incur a financial loss. The Group attempts to control credit risk by limiting transactions with
specific counterparties and continually assessing the creditworthiness of the counterparties.