... reflect the moderate probability of support, if needed, from its 100% owner, The Commercial Bank (P.Q.S.C) (A/Stable). This is based on the bank's ownership, strategic importance and the record of support. The downgrade of Alternatifbank's Foreign-Currency Issuer Default Rating (IDR) to `BB' from `BBB-` reflects the sovereign downgrade and Fitch Ratings' view that in Turkey it is no longer appropriate to rate banks above the sovereign. The Negative Outlooks on the IDRs reflect that on the sovereign. Rating Watch Negative on VR: The Rating Watch Negative (RWN) on Alternatifbank's Viability Rating (VR) reflects risks to performance, asset quality, capitalisation, liquidity and funding in a more difficult operating environment. The VR considers the concentration of the bank's operations in the challenging Turkish market, its limited franchise and weak capital. Limited Franchise: Alternatifbank had market shares below 1% of sector assets, deposits...
