MILAN (Standard&Poor's) Jan. 30, 2002--Following the revision on Jan. 29, 2002, of its outlook on the Republic of Turkey to positive, Standard&Poor's said today that its ratings and outlook remained unchanged on Turkish technology corporates Vestel Elektronik Sanayi Ve Ticaret A.S. (Vestel; B-/Stable/--)--an integrated, low-cost Turkish manufacturer of televisions and personal-computer monitors--and Turkcell Iletisim Hizmetleri A.S. (Turkcell; B-/Negative/--),Turkey's leading mobile telephone operator. The triple-'C'-plus and triple-'C' debt ratings on Turkcell's guaranteed financing vehicle Cellco Finance N.V. are also unchanged. While the improvement in the economic environment in Turkey--including a stabilization of the Turkish lira against the U.S. dollar--is likely to have positive impact on Turkcell's business fundamentals and growth prospects, the negative outlook continues to reflect
