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Published on 11/4/2009 in the Prospect News Emerging Markets Daily.

Fitch may up Turkey banks

Fitch Ratings said it placed 15 Turkish banks' and financial institutions' long-term foreign-currency issuer default ratings on Rating Watch positive, along with 14 Turkish banks' long-term local-currency issuer default ratings.

This follows similar action taken on the Republic of Turkey's long-term foreign-currency and local-currency issuer default ratings.

TC ZiraatBankasi AS's long-term foreign-currency issuer default rating of BB- was placed on Rating Watch positive, along with its long-term local-currency issuer default rating of BB. Its short-term foreign-currencyissuer default rating was affirmed at B, short-term local-currency issuer default rating at B and national long-termrating at AA+(tur). The outlook is stable.
Turkiye Halk Bankasi AS's long-term foreign-currency issuer default rating of BB- was placed on Rating Watch positive, along with its long-term local-currency issuer default rating of BB. Its short-term foreign-currencyissuer default rating was affirmed at B, short-term local-currency issuer default rating at B and national long-term rating at AA+(tur). The outlook is stable.
Turkiye Kalkinma Bankasi AS's long-term foreign-currency issuer default rating of BB- was placed on Rating Watch positive, along with its long-term local-currency issuer default rating of BB. Its short-term foreign-currency issuer default rating was affirmed at B, short-term local-currency issuer default rating at B and national long-term rating at AA+(tur). The outlook is stable.
Yapi Ve Kredi Bankasi AS's long-term foreign-currency issuer default rating of BB was placed on Rating Watch positive, along with its long-term local-currency issuer default rating of BBB-. Its short-term foreign-currency issuer default rating was affirmed at B, short-term local-currency issuer default rating at F3 and national long-term rating at AAA(tur). The outlook is stable.
Finansbank AS's long-term foreign-currency issuer default rating of BB was placed on Rating Watch positive, along with its long-term local-currency issuer default rating of BBB-. Its short-term foreign-currencyissuer default rating was affirmed at B, short-term local-currency issuer default rating at F3 and national long-termrating at AAA(tur). The outlook is stable.
Denizbank AS's long-term foreign-currency issuer default rating of BB was placed on Rating Watch positive, along with its long-term local-currency issuer default rating of BBB-. Its short-term foreign-currencyissuer default rating was affirmed at B, along with its short-term local-currency issuer default rating at F3 and national long-term rating at AAA(tur). The outlook is stable.
Turk Ekonomi Bankasi AS's long-term foreign-currency issuer default rating of BB was placed on Rating Watch positive, along with its long-term local-currency issuer default rating of BBB-. Its short-term foreign-currency issuer default rating was affirmed at B, short-term local-currency issuer default rating at F3 and national long-term rating at AAA(tur). The outlook is stable.
Bankpozitif Kredi Ve Kalkinma Bankasi AS's long-term foreign-currency issuer default rating of BB was placed on Rating Watch positive, along with its subordinated debt rating of BB-. Its long-term local-currency issuer default rating was affirmed at BBB-, short-term foreign-currency issuer default rating at B, short-term local-currency issuer default rating at F3 and national long-term rating at AAA(tur). The outlook is stable.
Turkiye Is Bankasi AS's long-term foreign-currency issuer default rating of BB was placed on Rating Watch positive, along with its long-term local-currency issuer default rating of BBB-. Its short-term foreign-currency issuer default rating was affirmed at B, short-term local-currency issuer default rating at F3 and national long-term rating at AAA(tur).The outlook is stable.
Turkiye Garanti Bankasi AS's long-term foreign-currency issuer default rating of BB was placed on Rating Watch positive, along with its long-term local-currency issuer default rating of BBB-. Its short-term foreign-currency issuer default rating was affirmed at B, short-term local-currency issuer default rating at F3 and national long-term rating at AAA(tur). The outlook is stable.
Akbank TAS's long-term foreign-currency issuer default rating of BB was placed on Rating Watch positive, along with its long-term local-currency issuer default rating of BBB-. Its short-term foreign-currencyissuer default rating was affirmed at B, short-term local-currency issuer default rating at F3 and national long-termrating at AAA(tur). The outlook is stable.
Turkiye Sinai Kalkinma Bankasi AS's long-term foreign-currency issuer default rating of BB was placed on Rating Watch positive, along with long-term local-currency issuer default rating of BB+ and short-term local-currency issuer default rating of B. Its short-term foreign-currency issuer default rating was affirmed at B and national long-term rating at AA+(tur). The outlook is stable.
Garanti Finansal Kiralama AS's long-term foreign-currency issuer default rating of BB was placed on Rating Watch positive, along with its long-term local-currency issuer default rating of BBB-. Its short-term foreign-currency issuer default rating was affirmed at B, short-term local-currency issuer default rating was affirmed at F3 and national long-term rating was affirmed at AAA(tur). The outlook is stable.
Is Finansal Kiralama AS's long-term foreign-currency issuer default rating of BB placed on Rating Watch positive, long-term local-currency issuer default rating of BBB-. Its short-term foreign-currency issuer default rating was affirmed at B, short-term local-currency issuer default rating at F3 and national long-term rating at AAA(tur). The outlook is stable.
Garanti Faktoring Hizmetleri AS's long-term foreign-currency issuer default rating of BB was placed on Rating Watch positive, along with long-term local-currency issuer default rating of BBB-. Its short-term foreign-currency issuer default rating was affirmed at B, short-term local-currency issuer default rating at F3 and national long-term rating at AAA(tur). The outlook is stable.

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