Fitch affirms Garanti Finansal, Garanti Faktoring

Fitch Ratings said it affirmed Garanti Finansal Kiralama AS's and Garanti Faktoring Hizmetleri AS's long-term foreign-currency issuer default rating at BBB-, short-term foreign-currency issuer default rating at F3, long-term local-currency issuer default rating at BBB-, short-term local-currency issuer default rating at F3 and national long-term rating at AAA(tur).

The outlook is stable.

The ratings reflect the high probability of support from their owner, Turkiye Garanti Bankasi AS, which is BBB-, Fitch said, adding that it believes that given Garanti Leasing's and Garanti Factoring's integration with and importance to Garanti Bank, there is a high probability that they would receive support from their parent if needed.

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