Fitch affirms Ford Otosan

Fitch Ratings said it affirmed Ford Otosan's long-term local-currency issuer default rating at BB+.

The outlook remains negative.

Throughout 2007 and the four months to April 2008, the company has maintained its overall leadership in the domestic market, Fitch said.

The negative outlook continues to reflect the brand ownership by Ford Motor Co. (rated B with negative view), the agency said, and the export sales network dependence on Ford Motor.

Deterioration in Ford Motor's rating could negatively affect Ford Otosan's rating, Fitch added.

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