Akbank proudly announces that it has become the only bank in the Turkish banking sector with a BBB rating securitization program. Fitch Ratings has upgraded the credit rating of the diversified payment rights (DPR) program of A.R.T.S. Ltd. (ARTS), established by Akbank T.A.Ş. (Akbank), from BBB- to BBB. The Outlook is Stable.
Fitch Ratings, the international credit rating agency, has upgraded the credit rating of the diversified payment rights (DPR) program of A.R.T.S. Ltd. (ARTS), established by Akbank T.A.Ş. (Akbank), from BBB- to BBB. The Outlook is Stable.
The published report highlights that the program’s rating has been upgraded from BBB- to BBB, and that the program rating continues to be four notches above Akbank’s ‘BB-’ Long-Term Local-Currency Issuer Default Rating (LTLC IDR). Furthermore, ARTS remains the only Turkish program to sustain a four-notch uplift, supported by Akbank’s ‘GC1’ score, well-diversified flows and sufficient Debt Service Coverage Ratio (DSCR).