Fitch: Kuveyt Turk view stable

Fitch Ratings said it revised Kuveyt Turk Katilim Bankasi AS' outlook to stable from positive and affirmed the long-term foreign-currency issuer default rating at BBB-.

The outlook revision follows the similar action on the Republic of Turkey on Nov. 24.

Ratings reflect the potential support from Kuveyt's majority shareholder Kuwait Finance House (A+/stable), the agency said.

The long-term foreign-currency issuer default rating is constrained by Turkey's country ceiling of BBB- and its local currency rating is capped two notches above that of the sovereign, according to the agency.

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