Fitch reviews Takasbank viability

Fitch Ratings said it placed Istanbul Takas ve Saklama Bankasi AS' (Takasbank) viability rating of bb+ on rating watch negative.

At the same time, the agency affirmed the bank’s long- and short-term foreign-currency issuer default ratings at BB+ and B, respectively.

The outlook is stable.

The action follows Fitch’s June 1 placement of number of large Turkish commercial banks' viability ratings and issuer default ratings on negative watch. Takasbank's credit profile is sensitive to a deterioration of commercial banks' risk profiles as they are Takasbank's largest clearing members and key counterparties in its ancillary treasury operations, the agency explained.

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