Fitch upgrades credit ratings of 12 Turkish financial institutions
International credit rating agency Fitch Ratings announced that it has upgraded the credit ratings of 12 non-bank financial institutions in Türkiye.
Fitch raises credit ratings of 12 Turkish institutions
According to a statement from Fitch, the long-term foreign currency issuer default ratings (IDR) of 11 institutions have been upgraded by two notches, moving from “B” to “BB-”. Additionally, the credit rating of Istanbul Clearing, Settlement and Custody Bank (Takasbank) has been upgraded from “B+” to “BB-”.
Fitch also raised the long-term local currency ratings of these institutions from “B+” to “BB-”. All companies’ credit outlooks have been rated as “stable.”
Affected Turkish financial institutions
The following companies were impacted by the credit rating upgrades:
- Ak Finansal Kiralama AS (Ak Leasing)
- Alternatif Finansal Kiralama AS (Alternative Leasing)
- Deniz Finansal Kiralama AS (Deniz Leasing)
- Garanti Faktoring AS (Garanti Factoring)
- Garanti Finansal Kiralama AS (Garanti Leasing)
- IS Finansal Kiralama AS (Is Leasing)
- QNB Finans Faktoring AS (QNB Factoring)
- QNB Finans Finansal Kiralama AS (QNB Leasing)
- Yapı Kredi Faktoring AS (Yapı Kredi Factoring)
- Yapı Kredi Finansal Kiralama A.O. (Yapı Kredi Leasing)
- Yapı Kredi Yatırım Menkul Değerler AS (Yapı Kredi Yatırım)
- Istanbul Clearing, Settlement and Custody Bank (Takasbank)
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