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Moody's rates Yapi Kredi debt Ba1
Moody's Investors Service said it assigned a Ba1 foreign-currency subordinated debt rating to the subordinated debt issuance by Yapi ve Kredi Bankasi AS.
The debt instrument is expected to be eligible for tier 2 capital treatment under Turkish law.
The outlook is negative.
In Moody's view, per the terms and conditions of the notes, the notes will be unconditional, subordinated and unsecured obligations and will rank pari passu with all Yapi Kredi's other subordinated unsecured obligations. The rating of the notes is in line with Yapi Kredi's subordinated unsecured foreign-currency debt rating.
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