Fitch lifts Istanbul, Toplu

Fitch Ratings said it upgraded and affirmed the ratings of the issuers listed below following the upgrade of the Republic of Turkey's long-term local currency issuer default rating to BB from BB-.

The outlook for Turkey's long-term issuer default rating is stable.

Fitch said that the ratings are as follows: Municipality of Metropolitan Istanbul's long-term local currency rating: upgraded to BB from BB-, outlook stable; long-term foreign currency rating: affirmed at BB-, outlook stable; and short-term foreign currency rating: affirmed at B; Toplu Konut Idaresi Baskanligi's long-term local currency rating: upgraded to BB from BB-, outlook stable; and long-term foreign currency rating: affirmed at BB-, outlook stable.

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