Moody's: Turk Eximbank view to negative

Moody's Investors Service said it affirmed Export Credit Bank of Turkey AS' (Turk Eximbank) Baa3 foreign currency issuer rating and long-term senior unsecured ratings and the baa3 baseline credit assessment.

The outlook was changed to negative from stable.

Turk Eximbank's foreign-currency issuer and long-term senior unsecured ratings reflect (a) its baseline credit assessment of baa3; and (b) high dependence and support from the Turkish government.

The outlook change was prompted by the similar outlook change on the Government of Turkey's rating as Moody's believes that the creditworth of TurkEximbank is interlinked with that of Government of Turkey as explained above.

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