Fitch lifts Lider Faktoring

Fitch Ratings said it upgraded Lider Faktoring Hizmetleri AS's national long-term rating to A(tur) from BBB+(tur).

The outlook is stable.

The upgrade is driven by a recalibration of the Turkish national rating scale and a reassessment of Lider's standalone credit strength, Fitch said.

Each of these factors contributed one notch to the two-notch upgrade, the agency said.

The new ratings reflect the company's extended track record of sound performance, characterized by good profitability and reasonable asset quality, Fitch said.

The ratings also are supported by the company's solid capital ratio, reasonably diversified funding and consistently positive asset/liability maturity gaps, the agency said.

The ratings also consider the company's limited size within the financial system, Fitch said.

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