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S&P changes Turk Eximbank to negative
Standard & Poor's said it lowered the outlook on Export Credit Bank of Turkey (Turk Eximbank) to negative from stable.
At the same time, the agency affirmed the long- and short-term foreign currency ratings at BB+/B and the local currency credit ratings at BBB/A-2.
The ratings on Turk Eximbank are equalized with those on its sole owner, the Republic of Turkey. As a result, S&P revised the outlook on Turk Eximbank to negative, in line with that on the sovereign. The outlook on Turkey was revised to negative from stable on Feb. 7.
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