Fitch Affirms 23 Turkish Financial Institutions' National Ratings Following Recalibration

August 5, 2016 2:54 PM

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: Fitch Affirms 23 Turkish Financial Institutions' National Ratings Following Recalibratihere LONDON, August 05 (Fitch) Fitch Ratings has affirmed the National Long-Term Ratings of 23 Turkish financial institutions, following its recalibration of the Turkish National Ratings Scale.

The recalibration of the Turkish National Ratings Scale follows the recent downgrade of Turkey's Long-term Local Currency Issuer Default Rating (IDR) to 'BBB-' from 'BBB' as a result of the application of criteria changes to Turkey's ratings (see 'Fitch Applies Criteria Changes to Turkey's Ratings' ...

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