Turkey's Akbank's issuer default ratings affirmed - Fitch |
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Published
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Thu, 12 Jul 2007 17:00
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MUMBAI (Thomson Financial) - Fitch Ratings said it has affirmed Turkey-based Akbank's issuer default ratings and said the ratings are driven by the bank's intrinsic financial strength, which reflects solid capital adequacy ratios, a good deposit market share and dynamic loan growth.Fitch has affirmed the Turkish second-largest private sector bank's long-term foreign currency issuer default rating at 'BB' and short-term foreign currency issuer default rating at 'B'.Fitch has also affirmed Akbank's long-term local currency issuer default rating at 'BB+' and short-term local currency issuer default rating at 'B'.Akbank's other ratings are affirmed at national long-term 'AA+(tur)' with stable outlook, individual 'C' and support '4', the ratings agency said.The outlook for the long-term issuer default ratings is stable, Fitch said.The long-term foreign currency issuer default rating is constrained by Turkey's 'BB' country ceiling. The long-term local currency issuer default rating is rated two notches higher than the sovereign's due to the bank's standalone financial strength, Fitch said.TFN.newsdesk@thomson.comans/lamCOPYRIGHTCopyright 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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Turkey-based Turkiye Garanti Bank's issuer default ratings affirmed - Fitch 