Fitch turns Limak view to negative

Fitch Ratings said it changed the outlook on Limak Iskenderun Uluslararasi Liman Isletmeciligi AS' notes to negative from stable, and affirmed the rating at BB-.

The outlook change and affirmation follow the outlook revision on Turkey’s issuer default rating to negative from stable on Dec. 2, the agency said.

“In Fitch's view, Turkey's sovereign IDR caps Limak's rating, due to its linkages to country's economic and regulatory environment,” the agency said in a press release.

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