Fitch affirms Denizbank

Fitch Ratings said it affirmed Denizbank AS's long-term foreign-currency issuer default rating at BBB- and short-term foreign-currency issuer default rating at F3.

The agency also said it affirmed Denizbank's long-term local-currency issuer default rating at BBB, short-term local-currency issuer default rating at F3 and national rating at AAA(tur). Its viability rating of BBB- is unaffected.

Fitch also said it affirmed its Russian subsidiary, CJSC Dexia Bank's long-term foreign- and local-currency issuer default ratings at BBB-, short-term foreign- and local-currency issuer default rating at F3 and national rating at AA+(rus).

The outlook is stable.

Denizbank recently announced that its parent company, Dexia, has started exploring potential strategic steps regarding its shares in Denizbank, Fitch said.

Denizbank's ratings reflect the bank's stand-alone strength, but also consider any impact by the bank's sale or any actions on the Turkish sovereign ratings, Fitch said.

CJSC Dexia Bank's ratings continue to reflect potential support from Denizbank, the agency said.

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