Fitch affirms Turkcell

Fitch Ratings said it affirmed Turkcell Iletisim Hizmetleri AS's long-term foreign- and local-currency issuer default ratings at BBB-.

The outlook is stable.

The affirmation reflects Turkcell's market share in the domestic mobile telecoms sector despite elevated competition, Fitch said.

The ratings also consider the company's strong credit metrics compared with its peers in the region despite the difficult operating environment and pressure on operating margins in Turkey, the agency said.

The ratings are constrained by corporate governance issues relating to continued shareholder disagreements over management control of the company and the board structure, Fitch said.

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