OREANDA-NEWS. Fitch Ratings has assigned Yapi Kredi Yatirim Menkul Degerler A.S.(YK Invest) Long-term Issuer Default Ratings (IDR) of 'BBB' with Stable Outlook, a Support Rating (SR) of '2' and a National Long-term Rating of 'AAA(tur)', in line with those of its parent, Turkey's Yapi ve Kredi Bankasi A.S. (YKB; BBB/Stable).

A full list of rating actions is available at the end of this rating action commentary.

YK Invest has one of the leading positions in the capital and securities markets. YK Invest's ratings are equalised with those of its sole owner, YKB. This reflects Fitch's view that it is a core, highly integrated subsidiary of YKB, acting as the investment banking arm of the group, and that the parent YKB has a strong ability and propensity to support YK Invest in case of a need.

Fitch's view of YKB's propensity to support YK Invest is driven by the latter's close integration with YKB. YK Invest shares its parent's branding, key risk assessment systems and customers. YK Invest board members are drawn from senior executives at YKB and YKB's CEO is Chairman of YK Invest.

YK Invest's ratings would be primarily sensitive to any change in YKB's ratings and also to Fitch's view on the propensity of the parent to provide support in case of need.

The rating actions are as follows:

Long-term foreign and local currency IDRs assigned at 'BBB'; Outlook Stable
Short-term foreign and local currency IDRs assigned at 'F2'
National Long-term Rating assigned at 'AAA(tur)'; Outlook Stable
Support Rating assigned at '2'.