Fitch rates Derindere B

Fitch Ratings said it assigned a long-term issuer default ratings of B to Derindere Turizm Otomotiv Sanayi ve Ticaret AS.

The outlook is stable.

The company’s long-term issuer default rating is identical to Derindere's national long-term rating, reflecting the company’s established and leading local franchise, sound asset quality and improving capitalization, Fitch said.

The ratings also consider its sizable exposure to foreign exchange and debt rollover risks, the agency said.

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