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Fitch revises outlook on Turkey's Lider Faktoring

Fitch Ratings on Aug. 16 affirmed Turkey-based Lider Faktoring AŞ' BBB(tur) national long-term rating and revised the outlook on the entity to stable from negative.

At the same time, Fitch affirmed the national long-term ratings of Kapital Faktoring AS and Destek Faktoring AS at A-(tur) and BBB+(tur), respectively. The outlook on the companies is stable.

The rating agency noted that the stable outlooks reflect its expectation that all three Turkish factoring firms' relative credit strengths remain resilient in the current challenging operating environment.