Fitch ups five Turkish companies' outlooks to positive

Fitch Ratings said it changed the outlooks on five Turkish industrial and commercial companies to positive from stable following the revision of the outlook on the Republic of Turkey's long-term foreign debt and local currency debt ratings to positive from stable.

Anadolu Efes Beverage's long-term foreign debt and local currency debt ratings were affirmed at BB- and BB+, respectively.

Coca-Cola Icecek's long-term foreign debt and local currency debt ratings were affirmed at BB- and BBB, respectively.

Hurriyet Gazetecilik ve Matbaacilik AS' long-term foreign debt and local currency debt ratings were affirmed at BB- and BB, respectively. Its national long-term debt rating was upgraded to AA-(tur) from A+(tur).

Turkcell Iletisim Hizmetleri AS' long-term foreign debt and local currency debt ratings were affirmed at BB- and BB, respectively.

Tupras' long-term foreign debt and local currency debt ratings were affirmed at BB- and BBB-, respectively. The local currency debt rating remains on Rating Watch evolving.

The long-term local currency debt rating outlook of Anadlu Efes and Coca-Cola Icecek remain stable, as they already fully reflect the strengths and risks consistent with their rating levels, the agency said. The Turkish corporates' ratings are constrained by the sovereign country ceiling of BB-.

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