Fitch Ratings upgrades Turkish banks’ outlooks

12 November 2019 0

Credit ratings agency Fitch has upgraded the outlooks of 20 Turkish banks to stable from negative. The move follows a similar upgrade of the outlook on Turkey’s long-term issuer default ratings to stable from negative on Nov. 1, Fitch said in a statement on Tuesday. Fitch also affirmed the ratings of those banks’ financial subsidiaries driven by institutional support, while revising their outlooks to stable. “The actions reflect reduced downside risks to the sovereign’s ability Read More