Moody's: Akbank eurobond Baa2

Moody's Investors Service said it assigned a Baa2 local-currency senior unsecured debt rating to the Turkish lira-denominated eurobond issued by Akbank TAS.

The outlook is stable.

The debt issuance is being offered under Rule 144A, Regulation S.

The terms and conditions of the notes include a negative pledge and a cross-default clause.

The notes constitute unconditional, unsubordinated and unsecured obligations, Moody's said, and will rank pari passu with all Akbank's other senior unsecured obligations.

The rating is in line with Akbank's senior unsecured local-currency debt rating.

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