LONDON: International credit rating agency Fitch Ratings revised the ratings of 22 Turkish banks including Isbank, subsequent to the downgrade of Turkey’s sovereign rating on 11 February 2022.

The agency revised Isbank’s Long-Term Foreign Currency Issuer Default Rating to B from B+. The outlook of the rating was determined as Negative. The agency also placed Isbank’s B+ Long-Term Local Currency Issuer Default Rating on Rating Watch Negative.