Fitch rates Yukel Insaat B

Fitch Ratings said it assigned Yukel Insaat AS a long-term foreign-currency issuer default rating of B.

The outlook is stable.

The ratings reflect the company's position as one of the main construction companies in Turkey, focusing on infrastructure construction contracts for mostly government entities across Turkey and the region, Fitch said.

The company has a long track record of project execution and on-time delivery, as well as a cautious approach to bidding, the agency said.

Its is well-positioned to benefit from the expected growth in energy demand, the agency said, as well as a need for improved infrastructure across many of its end markets.

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