Fitch raises Turkiye Sinai Kalkinma

Fitch Ratings said it upgraded Turkiye Sinai Kalkinma Bankasi AS’ senior unsecured notes to B from B-, its long-term foreign-currency issuer default rating to B from B- and affirmed the local-currency IDR at B+.

The agency said it also removed the IDRs from positive watch and assigned positive outlooks.

The upgrades and positive outlooks follow a similar action on Turkiye’s sovereign in March, Fitch said.

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