Fitch affirms ATF Bank, Yapi ve Kredi Bankasi

Fitch Ratings said it affirmed ATF Bank JSC of Kazakhstan and Yapi ve Kredi Bankasi AS of Turkey.

ATF Bank's long-term foreign-currency issuer default rating at BBB, short-term foreign-currency issuer default rating at F3, long-term local-currency issuer default rating at BBB, national long-term rating at AA+(kaz), senior unsecured debt at BBB, senior unsecured debt at AA+(kaz), subordinated debt at BBB-, subordinated debt at AA(kaz) and viability rating at B-.

Yapi ve Kredi Bankasi's long-term foreign-currency issuer default rating was affirmed at BBB-, long-term local-currency issuer default rating at BBB, short-term foreign-currency issuer default rating at F3, short-term local-currency issuer default rating at F3, national long-term rating at AAA(tur), senior unsecured debt at BBB- and viability rating at BBB-.

The affirmations follow the affirmation of UniCredit SpA's long-term issuer default rating at A- with a negative outlook.

ATF Bank is rated two notches below its ultimate parent to reflect the bank's low strategic importance to the group, Fitch said.

Yapi ve Kredi's local-currency long-term issuer default rating is maintained two notches below UniCredit's rating to reflect its non-controlling stake in the bank, the agency said.

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