16th Jul 2009 15:38
10.07.2009 Fitch Ratings Affirms Isbank's Ratings
The international credit rating agency Fitch Ratings affirmed Isbank's ratings. Isbank's current ratings are as follows:
Long-term (LT) foreign currency IDR affirmed at 'BB'; Outlook Stable Short-term (ST) foreign currency IDR affirmed at 'B' LT local currency IDR affirmed at 'BBB-'; Outlook Stable ST local currency IDR affirmed at 'F3' Individual rating affirmed at 'C' Support rating affirmed at '4' National LT rating affirmed at 'AAA(tur)'; Outlook Stable Support Rating Floor affirmed at 'B+'
Fitch Ratings stated that Isbank's LT local currency IDR reflects the Bank's stand-alone financial strength and that it is rated two notches above the sovereign's. It is also stated that the individual rating indicates Isbank's strong franchise within Turkey, as the largest private bank in terms of total assets, customer deposits, TL-denominated loans and branch network at the end of 2009-Q1.
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