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Published on 2/8/2012 in the Prospect News Emerging Markets Daily, Prospect News High Yield Daily and Prospect News Investment Grade Daily.

Moody's rates Yapi ve Kredi notes Ba1

Moody's Investors Service said it assigned a first-time Ba1 foreign-currency senior unsecured debt rating to Yapi ve Kredi Bankasi AS.

The outlook is positive.

The foreign-currency debt ratings are subject to the foreign-currency bond ceiling.

As a result, the bank's foreign-currency senior unsecured debt rating is constrained by and thus equal to this ceiling, Moody's said.

The debt issuance is being offered under Rule 144A, Regulation S. The notes will be unconditional, unsubordinated and unsecured obligations and will rank pari passu with all of the bank's other senior unsecured obligations.

The rating on the notes is in line with its senior unsecured foreign-currency debt rating, Moody's said.


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