Fitch downgrades lead Turkish stocks down
June 26, 2014 - 12:00:00 am
ISTANBUL: Three of Turkey’s leading private banks led the country’s main stock index lower yesterday, after ratings agency Fitch downgraded their ratings. The lira weakened as violence spread in neighbouring Iraq.
Fitch downgraded ratings for Isbank, Garanti and Akbank. It also revised its outlook of Yapi Kredi to “negative” from “stable,” in line with its parent, Unicredit, which operates in Turkey through a an equal partnership with Koc Holding.
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