Fitch gives highest grade to Yapı Kredi

Fitch gives highest grade to Yapı Kredi

ISTANBUL - Hürriyet Daily News
Fitch gives highest grade to Yapı Kredi

Fitch Ratings has upgraded Istanbul-based Yapı Kredi Portföy Yönetimi’s national asset manager rating from M2+ to M1, the highest level. REUTERS photo

Fitch Ratings has upgraded Turkey’s Yapı Kredi Portföy Yönetimi’s (Yapı Kredi Asset Management) national asset manager rating to M1, the highest level.

The rating agency has confirmed Istanbul-based Yapı Kredi Portföy’s national asset manager rating as M1, upgraded from M2+(tur), the company said in a statement yesterday. 

Fitch gave the company the highest rating level on global standards, after considering Yapı Kredi Portföy’s share in the market, sustainability of its performance, risk management and its asset volume, which reached the highest level at the end of last year, the company said.

Yapı Kredi Portföy’s general manager, Gülsevin Yılmaz, said they were proud to be the only company that received an M1 rating. “We believe that our company and customers will look to the future with confidence,” she said.

Yapı Kredi Portföy, a joint venture between Turkish group Koç Holding and Italian bank UniCredit, managed assets around 10 billion Turkish Liras as of the end of February.