Lenders fear more margin cuts as Turkey puts foot in the door of investment grade club

Turkey-focused loans bankers felt the screw tightening on margins again on Monday after Fitch upgraded the country’s credit rating to investment grade.

  • 06 Nov 2012

Lenders are bracing themselves for deep margin cuts next year when Turkey’s top tier banks return for their annual refinancing loans, starting in March, after Fitch upgraded Turkey from BB+ to BBB-.

Turkish credit Isbank shocked lenders in July when it broke with tradition and priced its deal 10bp ...

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