...+ On May 1, 2018, we lowered our unsolicited foreign currency rating on Turkey to '##-', assigned a stable outlook, and revised down our transfer and convertibility (T&C) assessment to '##+'. + Although our rating on Turkcell can exceed the sovereign rating by two notches, we cap the rating at the level of the T&C assessment on Turkey since Turkcell is a nonexport company with over 90% of its revenues coming from the domestic market. + We are consequently lowering our long-term ratings on Turkcell to '##+' from '###-'. + The stable outlook mirrors the outlook on the sovereign. DUBAI (S&P Global Ratings) May 8, 2018--S&P Global Ratings said today that it had lowered its long-term issuer credit rating on Turkcell Iletisim Hizmetleri A.S. (Turkcell) to '##+' from '###-'. The outlook is stable. We lowered the issue rating on Turkcell's senior unsecured notes and senior unsecured debt to '##+' from '###-'. We assigned a '3' recovery rating to this debt, indicating our expectation of meaningful...
