Moody's rates Finans Finansal Kiralama

Moody's Investors Service said it assigned a first-time Ba3 long-term senior unsecured foreign currency issuer rating to Finans Finansal Kiralama AS (Finans Leasing).

The outlook is stable.

Finans Leasing's foreign currency issuer rating is capped at the level of Turkey's own rating for foreign currency denominated debt, currently at Ba3, with a stable outlook, Moody's said.

The agency noted the ratings are supported by Finans Leasing's good niche franchise in the small, but growing Turkish leasing sector, it is consistently within the top five leasing companies in its home market of Turkey by most measures and has a market share of leasing volume of 7%.

The ratings further reflect Finans Leasing's adequate overall financial fundamentals, underscored by a relatively well-diversified client lease portfolio, exhibiting good sector and name diversification, as well as adequate lease portfolio quality for the Turkish operating environment, Moody's added.

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