S&P revises Koc Holding to stable

S&P said it revised its outlook on Koc Holding AS to stable from negative and affirmed its BBB- long-term and A-3 short-term corporate credit ratings.

The outlook revision follows the Nov. 4 outlook revision on the Republic of Turkey (BB/stable/B.

S&P said it revised the outlook on Koc to stable reflecting that the long-term rating on the company is no longer constrained by the outlook on the sovereign. The agency limits its rating on Koc to two notches above the foreign currency sovereign credit rating.

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