Fitch gives Turkiye Garanti bonds BBB

Fitch Ratings said it assigned Turkiye Garanti Bankasi AS' upcoming issue of Turkish lira-denominated eurobonds a BBB(EXP) expected rating.

The senior unsecured notes will rank equally with all of Turkiye Garanti's other senior unsecured obligations. The total amount and final maturity of the issue are yet to be determined.

Fitch said the expected rating is in line with Turkiye Garanti's long-term local currency issuer default rating of BBB/stable, which is driven by the bank's viability rating.

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