MILAN (Standard&Poor's) Nov. 7, 2002--Following the outlook revision to stable from negative on the Republic of Turkey (see related media release published earlier today on RatingsDirect), Standard&Poor's Ratings Services said today that it also revised its outlook to stable from negative on Turkcell Iletisim Hizmetleri A.S. (Turkcell), the country's leading cellular telephone operator. The single-'B'-minus long-term foreign-currency corporate credit rating on the company was affirmed. At the same time, Standard&Poor's raised its long-term debt rating on the guaranteed senior unsecured notes held by Dutch subsidiary Cellco Finance N.V. to single-'B'-minus from triple-'C'-plus. The equalization with the corporate credit rating follows the gradual repayment of a number of secured bank facilities, which now represent only
