Fitch ups Turkish corporates' foreign-currency ratings

Fitch Ratings said it upgraded to BB from BB- the foreign-currency issuer default ratings of the following Turkish corporates: Anadolu Efes Biracilik ve Malt Sanayii AS, Arcelik AS, Coca-Cola Icecek AS, Hurriyet Gazetecilik ve Matbaacilik AS, Petkim Petrokimya Holdings AS, Turkcell Iletisim Hizmetleri AS and Turkiye Petrol Rafinerileri AS.

All of the foreign-currency issuer default ratings have a positive outlook, reflecting the existing positive outlook on Fitch's BB- foreign-currency issuer default rating for Turkey. These rating actions follow the revision of the country ceiling for Turkey to BB from BB-.

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