Fitch: Views of three Turkey companies to negative

Fitch Ratings said it changed the outlooks on Turk Telekomunikasyon AS (Turk Telekom), Turkcell Iletisim Hizmetleri AS (Turkcell) and Coca Cola Icecek AS to negative from stable.

The outlook revisions follow a similar revision on Turkey’s outlook to negative from stable.

The ratings on the companies were affirmed, include Turk Telekom’s long-term foreign-currency issuer default rating at BBB-, long-term local-currency issuer default rating at BBB- and senior unsecured rating at BBB-.

Also affirmed were Turkcell’s long-term foreign-currency issuer default rating at BBB- and senior unsecured rating at BBB-, and Coca Cola Icecek’s long-term foreign-currency issuer default rating at BBB, long-term local-currency issuer default rating at BBB and senior unsecured rating at BBB.

The foreign-currency and local-currency issuer default ratings of Turkcell and Turk Telekom are constrained by Turkey's ratings, Fitch said.

Coca Cola Icacek's foreign-currency issuer default rating is constrained by Turkey's country ceiling of BBB, the agency said.

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