Fitch affirms Denizbank

Fitch Ratings said it affirmed Denizbank AS's long-term foreign-currency issuer default rating at BBB-, long-term foreign-currency issuer default rating at BBB-, short-term foreign-currency issuer default rating at F3, long-term local-currency issuer default rating at BBB, short-term local-currency issuer default rating at F3 and national long-term rating at AAA(tur). The ratings were removed from Rating Watch negative.

A stable outlook was assigned.

The removal of the negative watch reflects a renewed view that parental support from Dexia Bank SA will continue, Fitch said.

The agency also said it believes there will be only a limited impact on Denizbank from a restructuring plan announced by the bank's parent earlier this year.

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