Fitch Ratings has revised the National Long-Term Ratings of Anadolubank A.S.(Anadolubank), Arap Turk Bankasi A.S.(ATB) and
Fitch has also revised the National Long-Term Rating of
The revision follows the recalibration of Turkiye's National Rating scale, which itself follows the recent upgrade of Turkiye's Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to 'B+'/ Positive from 'B'/Stable.
The banks' other ratings are unaffected by the recalibration.
Key Rating Drivers
The revision reflects changes in Turkiye's National Rating scale solely driven by the recalibration of Fitch's National Ratings Correspondence Table and are not related to credit quality. The Positive Outlooks reflect the same on the banks' LTLC IDRs.
National ratings are a measure of relative credit risk among issuers in a country designed to help local investors differentiate risk.
Rating Sensitivities
Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade
The National Ratings are sensitive to adverse changes in the banks' LTLC IDRs and to their creditworthiness relative to other Turkish issuers'.
Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade
The National Ratings are sensitive to favourable changes in the banks' LTLC IDRs and to their creditworthiness relative to other Turkish issuers'.
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING
The principal sources of information used in the analysis are described in the Applicable Criteria.
RATING ACTIONS
Entity / Debt
Rating
Prior
Natl LT
BBB(tur)
Revision Rating
BBB+(tur)
Natl LT
BBB(tur)
Revision Rating
A-(tur)
Arap Turk Bankasi A.S.
Natl LT
BBB(tur)
Revision Rating
A-(tur)
Anadolubank A.S.
Natl LT
BBB(tur)
Revision Rating
A-(tur)
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VIEW ADDITIONAL RATING DETAILS
Additional information is available on www.fitchratings.com
PARTICIPATION STATUS
The rated entity (and/or its agents) or, in the case of structured finance, one or more of the transaction parties participated in the rating process except that the following issuer(s), if any, did not participate in the rating process, or provide additional information, beyond the issuer's available public disclosure.
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