Sunday 16, December 2012 by Robin Amlôt

Fitch upgrades Turkey's large private banks

Fitch Ratings has upgraded the Long-term Issuer Default Ratings (IDRs) of Turkey's three largest privately-owned banks - Turkiye Is Bankasi A.S. (Isbank), Turkiye Garanti Bankasi A.S. (Garanti) and Akbank T.A.S. (Akbank) - to 'BBB' from 'BBB-'. Yapi ve Kredi Bankasi A.S.'s (Yapi Kredi) Long-term IDRs have been affirmed at 'BBB', and the Outlook revised to Stable from Negative.

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