Moody's ups Turkey banks view to positive

Moody's Investors Service said it changed the outlook to positive from stable on the Ba3 foreign-currency deposit ratings of 16 Turkish banks, including Yapi ve Kredi Bankasi AS, Anadolubank AS, Asya Katilim Bankasi AS, Bankpozitif Kredi ve Kalkinma Bankasi AS, Denizbank AS, Eurobank Tekfen AS, Finansbank AS, HSBC Bank AS, T.C. Ziraat Bankasi AS, Turk Ekonomi Bankasi AS, Turkiye Garanti Bankasi AS, Turkiye Halk Bankasi AS, Turkiye Is Bankasi AS, Turkiye Sinai Kalkinma Bankasi AS and Turkiye Vakiflar Bankasi TAO.

The outlook on Akbank TAS's Ba3 long-term foreign-currency deposit rating and the Ba1 long-term foreign-currency senior unsecured debt rating to the eurobond issuance was changed to positive from stable.

The outlook on Export Credit Bank of Turkey AS's Ba1 issuer rating was changed to positive from stable. These outlook changes are the direct result of a decision to change the outlook to positive from stable on Turkey's Ba3 country ceiling for foreign-currency deposits and Ba1 country ceiling for foreign-currency debt, Moody's said.

The foreign-currency deposit ratings of all 16 rated banks, the issuer rating of Export Credit Bank of Turkey and the senior unsecured debt rating of the Akbank's eurobond are constrained by the current ceilings for these deposits and debts in Turkey, the agency said.

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