Fitch Renewed Confidence in Turkish Banks: Rating Revisions

The international credit rating agency Fitch Ratings has updated its assessment of the Turkish banking sector, making a noteworthy rating revision. The upward changes in the credit ratings of many banks indicate that the sector has regained confidence and strengthened the positive outlook for international investments.

Fitch's statement noted that the rating upgrades are linked to a significant strengthening of the capacity for support provided by the Turkish banking sector in dollar terms. In particular, the long-term foreign currency credit ratings of important institutions such as Ziraat Bankası, Vakıfbank, and TSKB have been raised from B+ to BB- level. This rating increase further reinforces the banks' resilience in international markets.

Furthermore, the financial capacity strength ratings of the same banks have also been revised from b+ to bb-. This development reflects the improvement in the banks' financial performance and their future potential. Overall, the local currency credit ratings have been maintained at BB-, while national ratings remain stable at AA(tur).

In Fitch's report, the outlook for all ratings has been confirmed as stable. This situation enhances the resilience of Turkish banks against adverse external conditions and instills confidence in the markets. The success of Turkey's banking sector is of great importance for ensuring financial stability and attracting the interest of international investors.