Fitch Ratings has upgraded the Long-term foreign and local currency ratings of the Municipality of Metropolitan Istanbul to B from B-. The Outlook on the Long-term ratings remains Positive.
The action follows the change in the Long-term ratings of the Republic of Turkey to B from B-. The rating agency changed Istanbul’s foreign and local currency Long-term ratings of B- to Positive from Negative last month. This followed the change in the Outlook on the Republic of Turkey's sovereign rating of B- to Positive from Negative. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
