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Fitch: Dogan Yayin on watch
Fitch Ratings said it has placed Dogan Yayin Holding's long-term local and foreign currency issuer default ratings of B+ on rating watch negative.
Fitch said that the watch is based on the TRY 862 million tax fine on the sale of 25% Dogan TV Holding AS shares to Axel Springer and from the "cautionary attachment" that was issued by the tax authorities on Dogan Yayin's stakes at its subsidiaries.
The cautionary attachment relates to Dogan Yayin's domestic bank accounts, the sale of its stakes in Hurriyet Gazetecilik (66.56%; BB-/RWN), Dogan Gazetecilik (70.76%) and Dogan Burda (44.89%), the agency said.
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