LONDON -- Standard&Poor's CreditWire 06/17/98 -- Standard&Poor's today assigned its single-'B' long-term corporate credit rating to the Turkish cellular operator Turkcell Iletisim Hizmetleri A.S. (Turkcell). The outlook is stable. Furthermore, Standard&Poor's assigned single-'B' corporate credit rating and its triple-'C'-plus long-term rating to Cellco Finance N.V.'s (Cellco) US$300 million senior subordinated notes due 2005 and expects to assign its single-'B' long-term rating to Turkcell's US$575 million senior secured bank facilities. Cellco is a single-purpose entity created to issue the notes and lend the proceeds therefrom to Turkcell. The lower rating of the notes reflects Standard&Poor's policy of notching down subordinated debt from the corporate credit rating. The ratings reflect Turkcell's dominant position in
