MUMBAI (Thomson Financial) - Fitch Ratings said it has affirmed Turk Ekonomi
Bankasi's (TEB) long term local currency IDR at 'BB+' and short term local
currency IDR at 'B'.
Fitch said it also affirmed the bank's long and short term foreign currency
currency IDRs at 'BB' and 'B' respectively. The national long term rating was
affirmed at 'AA+(tur)', individual rating at 'C/D' and support rating at '3'.
Fitch said the outlooks for the long term IDRs and the national long-term
rating are stable.
The ratings agency said TEB's IDRs are support-driven and reflect the bank's
indirect 42.13 pct ownership by BNPP.
It said no further upside potential is possible given Turkey's current
country ceiling at 'BB'.
Fitch added the individual rating reflects a strong track record in managing
risks, sound asset quality with consistently low impaired loan ratios and good
liquidity.
TFN.newsdesk@thomson.com
rsh/ran
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