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Fitch assigns Türkiye Sinai Kalkinma Bankasi rating

Fitch Ratings on Oct. 4 assigned Türkiye Sinai Kalkinma Bankasi AS a viability rating of "bb."

Fitch said it assigned the rating based on its view that the Turkish lender's operations are sufficiently independent for the agency to assess its stand-alone creditworthiness.

It added that the rating reflects the bank's unique position as a privately owned development bank, its sound underwriting standards and its solid performance metrics to date, although Fitch noted that it also reflects the bank's specialized focus, small absolute size and loan concentrations.