14th Dec 2009 16:03
11.12.2009 Fitch Ratings Upgrades Isbank's Ratings
The international credit rating agency Fitch Ratings upgraded/affirmed Isbank's ratings as follows: Long-term (LT) foreign currency IDR upgraded to 'BBB-' from 'BB'; assigned Stable Outlook LT local currency IDR affirmed at 'BBB-'; assigned Stable Outlook Short-term (ST) foreign currency IDR upgraded to 'F3' from 'B' ST local currency IDR affirmed at 'F3' National LT rating affirmed at 'AAA(tur)'; Stable Outlook Individual rating affirmed at 'C' Support rating upgraded to '3' from '4'; Support Rating Floor revised to 'BB' from 'B+' Fitch Ratings stated that Isbank's Long-term IDRs are driven by its intrinsic financial strength which is reflected in its Individual rating of 'C'. In the disclosure of the rating agency, it is announced that Isbank's Long-Term Local Currency IDR is rated one notch above the sovereign's Long-Term Local Currency IDR and Long-Term Foreign Currency IDR is rated at the Country Ceiling level and is not constrained.
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