S&P lowers Turk Eximbank view to stable

Standard & Poor's said it revised the outlook on Export Credit Bank of Turkey (Turk Eximbank) to stable from positive.

The agency also said it affirmed the long- and short-term foreign-currency issuer credit ratings at BB/B and the local-currency ratings at BBB-/A-3.

The ratings are equalized with those on its sole owner, Turkey, S&P said.

The ratings also reflect an opinion that there is an almost certain likelihood that the Turkish government would provide timely and sufficient extraordinary support to the bank in case of financial distress, the agency said.

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