Bank Kapital Ratings On Rating Watch Neg Following Takeover.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 30, 2000 Following the takeover on Friday, October 27 of Turkey's Bank Kapital by the Banking Regulation and Supervision Agency (BRSA BRSA British Rope Skipping Association BRSA Baton Rouge Soccer Association BRSA Banking Regulatory and Supervision Agency (Turkey) BRSA Blue Ridge Soccer Association (Virginia) ), Fitch fitch: see polecat. , the international rating agency, has placed the long-term foreign currency, local currency ratings and short-term local currency rating of Turkey's Bank Kapital of `B+', `B+' and `B' respectively, on Rating Watch Negative pending further discussions with the BRSA and the announcement of its rehabilitation rehabilitation: see physical therapy. plan for the ten banks under its control. The recently established BRSA has stated that the takeover of Bank Kapital followed a deterioration de·te·ri·o·ra·tion n. The process or condition of becoming worse. in the bank's financial condition. Fitch understands that the bank will continue to operate and that it is likely that the BRSA will ensure that it continues to meet its commitments in the short term. However, the longer term future is more uncertain and the BRSA has announced that it will unveil a rehabilitation plan for the ten banks under its control next week with the aim of selling the banks as soon as possible. A more detailed comment on recent developments in the Turkish banking sector will be issued shortly. Fitch is an international rating agency that provides global capital market investors with the highest quality ratings and research. Dual headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and London with a major office in Chicago, Fitch rates entities in 75 countries and has some 1,100 employees in more than 40 local offices worldwide. The agency, which is a combination of Fitch IBCA IBCA International Braille Chess Association IBCA Institute of Burial and Cremation Administration IBCA Integrated Business Communications Alliance IBCA International Barbeque Cookers Association IBCA Department of Interior Board of Contract Appeals and Duff & Phelps Credit Rating Co., provides ratings for Financial Institutions, Insurance, Corporates, Structured Finance, Sovereigns and Public Finance markets worldwide. |
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