Fitch rates Yapi Kredi bond BBB

Fitch Ratings said it assigned a final BBB rating to Yapi ve Kredi Bankasi AS's seven-year $500 million unsecured eurobond issue.

The final rating is the same as the expected rating assigned on Jan. 7.

The notes are senior unsecured and rank equally with all of Yapi Kredi's other senior unsecured obligations.

The notes are rated in line with Yapi Kredi's long-term foreign currency issuer default rating of BBB/stable, which is driven by the bank's viability rating and also underpinned by potential support from UniCredit SpA.

The proceeds from the notes will be used for general corporate purposes.

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