...Support-Driven IDRs: ING Bank A.S.'s (INGBT) Issuer Default Ratings (IDRs), National Long- Term Rating and Support Rating are driven by support from its 100% shareholder, ING Bank N.V. (A+/Stable/a+). The Negative Outlook on the Long-Term IDRs mirrors that on the Turkish sovereign. Fitch Ratings believes support from ING N.V. would be forthcoming if needed based on ownership, strategic importance of the subsidiary to its parent and the history of support. IDR Constrained: INGBT's support-driven Long-Term Foreign-Currency IDR is constrained by Turkey's Country Ceiling of `BBB'. Its local-currency IDR takes into account country risks. Moderate Franchise: INGBT's Viability Rating (VR) reflects the bank's exposure to the Turkish operating environment, its moderate but stable franchise and limited scale. The franchise lags peers (medium-sized foreign owned banks) in terms of assets, deposits and network coverage. However, the VR also reflects reasonable asset quality, improved performance prospects...
