CreditMarket data 2026-09-04

Smart Güneş Enerji̇si̇ Teknoloji̇leri̇ Araştirma Geli̇şti̇rme Üreti̇m Sanayi̇ Ve Ti̇caret A.Ş.#

Fund User detail page — this entity is the credit-bearing borrower behind 1 sukuk across 2 SPVs. See CONVENTIONS §14 on the SPV vs Fund User distinction.

Outstanding Sukuk

all ISINs where this entity is Fund User

Total Raised

₺250.00M

nominal across all SPVs

SPVs Used

distinct Varlık Kiralama vehicles

Sector

Energy/Materials

classification from KAP entity name

Refi Risk (12m)

1.00×

moderate · ₺250.00M maturing vs ₺250.00M issued

Latest Captured Rating (Fund User)

Uzun Vadeli Ulusal Kredi Notu BBB

Investment Grade · JCR Avrasya Derecelendirme A.Ş. · 2026-07-20 · validity unverified

Rating Decision History#

Latest decision-grain evidence for this borrower hierarchy. Status and raw agency notation remain source-specific. Open all 3 matching decisions.

Latest rating decisions matching SMART GÜNEŞ ENERJİSİ TEKNOLOJİLERİ ARAŞTIRMA GELİŞTİRME ÜRETİM SANAYİ VE TİCARET A.Ş.
Decision date	Borrower	Role	Agency	Raw agency notation	Scale	Action / outlook	Status	Evidence
2026-07-20	SMART GÜNEŞ ENERJİSİ TEKNOLOJİLERİ ARAŞTIRMA GELİŞTİRME ÜRETİM SANAYİ VE TİCARET A.Ş.	Fund User	JCR	Uzun Vadeli Ulusal Kredi Notu BBB (Tr)	Türkiye National	KAP issuance observation	KAP observation; not current	KAP issuance
2026-03-27	SMART GÜNEŞ ENERJİSİ TEKNOLOJİLERİ ARAŞTIRMA GELİŞTİRME ÜRETİM SANAYİ VE TİCARET A.Ş.	Fund User	JCR	Uzun Vadeli Ulusal Kredi Notu- BBB (tr)	Türkiye National	KAP issuance observation	KAP observation; not current	KAP issuance
2024-07-18	SMART GÜNEŞ ENERJİSİ TEKNOLOJİLERİ ARAŞTIRMA GELİŞTİRME ÜRETİM SANAYİ VE TİCARET A.Ş.	Fund User	JCR	A (tr) / (Stabil Görünüm)	Türkiye National	KAP issuance observation	KAP observation; not current	KAP issuance

Yield History — Last 4 Months#

How this Fund User's sukuk have re-marked over the past 4 months. Use this with the credit-curve snapshot above to answer: is the entity getting cheaper or richer, and is the move concentrated on specific maturities or whole-curve?

All Sukuk — Consolidated Across SPVs#

Data table with 1 rows across 9 columns
ISIN	SPV (issuer)	Type	Yield Type	CCY	Maturity	DTM	Issue Amount	Last Auction Yld
TRDEMVK52715	Emlak Varlık Kiralama A.Ş.	Özel Kira Sertifikası / Private Lease Cert.	Değişken / Variable-TLREFK e Dayalı/Indexed to TLREFK	TRY	2027-05-13	251	₺250.00M	0.00%

SPVs Used for Issuance#

Every Varlık Kiralama vehicle this Fund User has issued through. The credit risk is the same (this entity), but the legal wrapper changes.

Data table with 2 rows across 4 columns
SPV (Varlık Kiralama)	Issuances	Notional Raised	Latest Disclosure
EMLAK VARLIK KİRALAMA A.Ş.	3	₺750.00M	2026-05-15 10:22
KATILIM VARLIK KİRALAMA A.Ş.	1	₺150.00M	2026-09-02 13:57

Latest Issuance Disclosures#

Latest 15 sukuk sale-completion filings naming this entity as Fund User, ranked newest first. Public output omits source handles.

Data table with 4 rows across 7 columns
Rank	Disclosed	ISIN	SPV	Compound%	Tenor (days)	Maturity
1	2026-09-02 13:57	TRDKTLM22733	KATILIM VARLIK KİRALAMA A.Ş.	50.30%	175.0	2027-02-24
2	2026-05-15 10:22	TRDEMVK52715	EMLAK VARLIK KİRALAMA A.Ş.	—	363.0	2027-05-13
3	2025-01-31 09:31	TRDEMVK12669	EMLAK VARLIK KİRALAMA A.Ş.	49.11%	363.0	2026-01-29
4	2024-11-28 11:08	TRDEMVKA2515	EMLAK VARLIK KİRALAMA A.Ş.	51.75%	371.0	2025-12-04