Page 26 - Turkey Outlook 2023

Positive Positive Positive
Stable Turkey, AKBNK Stable Stable Zorlu
Six
notches B3 B- B- AKBNK, VAKBN,
below GARAN, ISCTR,
investment Negative ISCTR, TSKB Negative Ukraine, ALBRK Negative YKBNK, EXIMB,
QNBFB, TSKB,
ALBRK, Kuveyt Turk
Caa1 Ronesans REIT CCC+
Almost Caa2 Ukraine CCC CCC Ukraine
default
Caa3 CCC-

26 Turkey Outlook 2023 www.intellinews.com