On July 19, 2005, Standard&Poor's Ratings Services said that its 'B' long-term foreign currency corporate credit rating on leading Turkish mobile operator, Turkcell Iletisim Hizmetleri A.S. (Turkcell), remains on CreditWatch with positive implications, where it was placed on March 25, 2005. The 'B' senior unsecured debt rating on related entity Cellco Finance N.V. also remains on CreditWatch with positive implications. The CreditWatch placement followed the announcement that TeliaSonera AB (A/Negative/A-1) was to take control of the company through the purchase of a further 53% interest in Turkcell Holding A.S., Turkcell's parent company. Although this transaction is not now expected to proceed, the ratings remain on CreditWatch with positive implications following the announcement by the Cukurova group, one of
