Fitch rates Bankpozitif notes BB

Fitch Ratings said it assigned Deutsche Bank's Luxembourg SA's upcoming issue of limited recourse loan participation notes an expected foreign-currency long-term rating of BB.

The notes will be used to finance a loan to Bankpozitif Kredi ve Kalkinma Bankasi AS. The issuer will only pay noteholders amounts received from Bankpozitif under the loan agreement.

Bankpozitif has a foreign-currency issuer default rating BB and a local-currency issuer default rating of BB+.

The outlook is stable.

Fitch said the expected BB rating reflects the agency's standard rating practice for senior unsecured debt instruments of issuers with issuer default ratings of BB- or higher.

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