Turkey-based Turkiye Garanti Bank's issuer default ratings affirmed - Fitch |
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Published
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Thu, 12 Jul 2007 16:36
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LONDON (Thomson Financial) - Fitch Ratings said it has affirmed Turkiye Garanti Bankasi AS' issuer default ratings and said the ratings are driven by the bank's intrinsic financial strength, which reflects its improving profitability.Fitch has affirmed the Turkish bank's long-term foreign currency issuer default rating at 'BB', short-term foreign currency issuer default rating at 'B', long term local currency issuer default rating at 'BB+' and short-term local currency issuer default rating at 'B'.Its other ratings are affirmed at National LT 'AA+(tur)' with a stable outlook, individual 'C' and support '3', the ratings agency said.The outlook on the long-term issuer default ratings is stable and is likely to remain so unless the outlook on the sovereign rating changes, Fitch said.TFN.newsdesk@thomson.comans/dcaCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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