LONDON (Standard&Poor's CreditWire) April 25, 2000--Standard&Poor's today raised its foreign currency corporate credit rating on Turkcell Iletisim Hizmetleri A.S. (Turkcell) to single-'B'-plus from single-'B'. At the same time, Standard&Poor's raised its senior unsecured rating to single-'B' from single-'B'-minus, and its subordinated debt rating to single-'B'-minus from triple-'C'-plus on Turkcell's financing vehicle Cellco Finance N.V. (guaranteed by Turkcell). The rating actions reflect today's upgrade of the long-term foreign currency rating on the Republic of Turkey to single-'B'-plus from single-'B' (see related press release). Turkcell is Turkey's leading operator of cellular global systems for mobile communications. The outlook is positive. Turkcell's rating is underpinned by the company's dominant position in the rapidly growing Turkish cellular telephone
