Moody's: Export Credit Bank of Turkey notes Ba1

Moody's Investors Service said it assigned a first-time provisional Ba1 foreign-currency senior unsecured debt rating to Export Credit Bank of Turkey AS (Turk Eximbank).

The outlook is positive.

The rating and outlook is same as the foreign-currency issuer rating already assigned to Turk Eximbank, as ultimately all the payment obligations within the structure remain with Turk Eximbank, Moody's said.

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

Any subsequent foreign-currency senior unsecured bonds issued by Turk Eximbank also will be rated Ba1, the agency said.

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