Moody's Rates 14 Turkish Banks

ANKARA - International credit rating group Moody's has evaluated 14 Turkish banks in terms of their financial strength under a new methodology.
The group upgraded credit ratings of 11 banks while ratings of the other 3 banks remained the same.
The updated credit ratings are as follows:

Bank Former New
----------- ----- -----
Akbank D+ C-
Anadolubank D- D
Denizbank D+ C-
Finansbank D+ C-
Fortis Bank D+ D+
HSBC Bank D+ C-
Oyak Bank D+ D+
Ziraat Bankasi E+ D
Tekfenbank E+ D-
Garanti Bankasi D+ C-
Turkiye Is Bankasi D D+
Turkiye Sinai Kalkinma Bankasi D+ D+
Turkiye Vakiflar Bankasi D- D+
Yapi ve Kredi Bankasi D- D+

Meanwhile, Citi-Akbank partnership will be celebrated at a gala dinner in New York, USA on May 7th with the participation of Citigroup CEO Charles Prince and Sabanci Holding Chairperson Guler Sabanci.
Sabanci Holding said in a written statement on Monday that the celebration will take place at the second annual gala dinner of the American Turkish Society.
After an agreement on October 17th, 2006, Citigroup bought 20 percent shares of Turkey's Akbank for 3.1 billion USD.