Fitch trims Ronesans

Fitch Ratings said it downgraded Ronesans Gayrimenkul Yatirim AS' long-term issuer default rating and senior unsecured rating to BB- from BB. The outlook is negative.

“RGY's ratings are now constrained by Turkey's country ceiling of BB-,” the agency said in a news release.

“This rating action follows the downgrade of the Turkish sovereign rating to BB- with outlook negative and the country ceiling to BB-.”

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