Fitch rates Garanti notes BBB-

Fitch Ratings said it assigned Turkiye Garanti Bankasi AS' $500 million of 6.25% fixed-rate notes due April 20, 2021 and $300 million floating-rate notes due April 20, 2016 a final rating of BBB-.

The rating reflects the completion of the issuance and receipt of documents conforming to the information previously received, Fitch said. The final rating is the same as the expected rating Fitch assigned on April 7.

The bonds are senior obligations of Garanti and ratings assigned are in line with Garanti's long-term issuer default rating, the agency said.

Garanti has BBB- long-term foreign- and local-currency issuer default ratings with a positive outlook, F3 short-term foreign- and local-currency issuer default ratings and an AAA(tur) national long-term rating with a stable outlook.

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