Fitch affirms Turkiye Petrol

Fitch Ratings said it has affirmed Turkiye Petrol Rafinerileri AS' long-term local and foreign currency issuer default ratings at BBB-.

The national long-term rating is also affirmed at AAA(tur), the agency said.

The outlooks are stable.

Fitch added that the affirmation reflects Tupras's leading position in the Turkish oil refining and marketing sector and above-average cash flow from operations for a refining business, primarily due to its domestic sales margin and favorable position in terms of crude oil supply costs and product slate.

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