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Moody's Raises Outlook on 17 Turkish Banks to Positive

TURKEY
  • Moody's has today affirmed the Baseline Credit Assessments and long-term local-currency deposit and long-term issuer ratings - where applicable - of all 17 banks that it rates in Turkey, and has changed the outlook on these ratings to positive from stable, the ratings agency stated in a report.
  • The rating action follows Moody's recent decision to change the outlook on Government of Turkey’s issuer rating to positive from stable and affirm the rating of the sovereign at B3.
  • At the same time, Moody's raised Turkey’s foreign-currency country ceiling to B2 from B3 and the local-currency country ceiling to Ba3 from B1.

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