OREANDA-NEWS. February 02, 2015. Fitch Ratings says in a new comment that it expects a new Turkish regulation guaranteeing subnationals' bond issuance to be positive for their funding profiles.

Under Law 4749 Debt Management and Borrowing Principals, subnationals' bond issuance in the external capital markets will be backed by the Treasury's repayment guarantee.

In Fitch's view, this will help attract a diversified investor base at favourable market conditions, which should be positive for the subnationals' funding profiles over the medium to long term.