Fitch rates Yapi ve Kredi Bankasi eurobond BBB-

Fitch Ratings said it assigned an expected rating of BBB- to Yapi ve Kredi Bankasi AS's forthcoming eurobond issue.

The notes are senior unsecured and will rank equally with all of Yapi Kredi's other senior unsecured obligations. The total amount and final maturity of the issue are yet to be determined.

The bank has a long-term foreign-currency issuer default rating of BBB-; long-term local-currency issuer default rating of BBB, which is on Rating Watch negative; short-term foreign-currency issuer default rating of F3; short-term local-currency issuer default rating of F3; national long-term rating of AAA(tur) and viability rating of BBB-.

Yapi Kredi is Turkey's fourth-largest private bank with a 9.2% market share in assets and 9.1% in total deposits, Fitch said.

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