Fitch affirms Asya Katilim

Fitch Ratings said it affirmed Asya Katilim Bankasi AS's long-term issuer default rating at B+, short-term foreign-currency and local-currency issuer default ratings at B, national long-term rating at A-(tur) and viability rating at B+, along with the expected B+ rating on the forthcoming medium-term senior unsecured sukuk issue.

The outlook is stable.

The ratings reflect the bank's modest size, its track record of rapid loan growth, fairly narrow product range and tight capital ratios, which are likely to constrain growth, Fitch said.

The ratings also consider that it is the largest participation bank and its key financial ratios remain sound, the agency said.

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