Fitch lifts Yapi Ve Bankasi view to stable

Fitch Ratings said it affirmed Yapi Ve Bankasi’s long-term issuer default rating at BBB and its short-term issuer default rating at F3.

The outlook was revised to stable from negative.

Also affirmed includes the bank’s local-currency long-term issuer default rating at BBB, local-currency short-term issuer default rating at F3, national long-term rating at AAA(tur), senior unsecured debt at BBB and subordinated notes at BBB-.

The outlook revision mirrors the recent action on UniCredit SpA.

Yapi Ve Bankasi’s ratings reflect a view that it is a strategically important subsidiary for its parent company, Fitch said.

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