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)
e) Credit Risk (continued)
Concentrations of credit risk arise when a number of counterparties are engaged in similar business activities
or activities in the same geographic region, or have similar economic features that would cause their ability
to meet contractual obligations to be similarly affected by changes in economic, political or other conditions.
Concentrations of credit risk indicate the relative sensitivity of the Group’s performance to developments
affecting a particular industry or geographic location.
The Group seeks to manage its credit risk exposure through diversification of sales activities to avoid undue
concentrations of risks with individuals or groups of customers in specific locations or businesses. The Group
also obtains guarantees from the customers when appropriate.
Maximum exposure to credit risk and aging of financial assets past due but not impaired as of December 31,
2010 and 2009 are disclosed as below:
Current Year
Receivables
Trade Receivables Other Receivables
Due from Due from Due from Due from
related third related third
parties parties parties parties
Deposits
Derivative
Instruments Other
Maximum exposure to credit risk at the end
of reporting period (A+B+C+D+E)
337 518.251 - 9.244 992.299 - 73.361
- Maximum credit risk secured by guarantees - 318.290 - - - - -
A. Net carrying amount of financial assets that
are neither past due nor impaired
B. Carrying amount of financial assets whose
337 477.987 - 9.244 992.299 - -
term has been renegotiated, otherwise past
due or impaired
- - - - - - -
C. Net carrying amount of financial assets past
due but not impaired
- 38.733 - - - - -
- Under guarantee - 6.208 - - - - -
D. Net carrying amount of financial assets
impaired
- 1.531 - - - - -
- past due (gross carrying value) - 16.597 - - - - -
- impaired (-) - (15.066) - - - - -
- Net carrying amount of financial assets
under guarantee
- 1.531 - - - - -
- not past due (gross carrying value) - - - - - - -
- impaired (-) - - - - - - -
- Net carrying amount of financial assets
under guarantee
- - - - - - -
E. Off- balance sheet items which include
credit risk
- - - - - - 73.361
Current Year
Trade Receivables
Other
Receivables Deposits
Derivative
Instruments Other
Past due between 1-30 days 23.853 - - - -
Past due between 1-3 months 9.126 - - - -
Past due between 3-12 months 3.308 - - - -
Past due for more than 1 year 2.446 - - - -
ANADOLU EFES ANNUAL REPORT 2010
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