Fitch rates Ak Finansal Kiralama BBB-

Fitch Ratings said it assigned Ak Finansal Kiralama AS (AKLease) a long-term foreign-currency issuer default rating BBB-, long-term local-currency issuer default rating of BBB-, short-term foreign-currency issuer default rating at F3, short-term local-currency issuer default rating at F3 and national long-term rating at AAA(tur).

The outlook is stable.

The ratings are driven by the support of its owner, Akbank, which owns 99.99% of AKLease. Fitch said it believes that given AKLease's integration with and importance to Akbank, there is a high probability that it would receive financial support from its parent if needed, Fitch said.

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