PARIS (Standard&Poor's CreditWire) July 11, 2001--Following its revision today of the outlook on the Republic of Turkey (B-/Negative/C), Standard&Poor's today took the following rating actions on two Turkish technology corporates: -- Revised to negative from stable its outlook on Vestel Elektronik Sanayi Ve Ticaret A.S. (Vestel), an integrated, low-cost Turkish manufacturer of televisions and personal-computer monitors. The single-'B'-minus long-term corporate credit rating was affirmed. -- Maintained on CreditWatch with negative implications all its ratings on Turkcell Iletisim Hizmetleri A.S. (Turkcell)--Turkey's leading operator of mobile telephony--and guaranteed financing vehicle Cellco Finance N.V., including the parent's single-'B'-minus long-term corporate credit rating. The ratings were placed on CreditWatch on Feb. 21, 2001, following the CreditWatch placement of the sovereign's
