OREANDA-NEWS. November 10, 2015. This announcement corrects the version published on 16 October 2015, which incorrectly stated Ak Investment's Support Rating.

Fitch Ratings has assigned Ak Yatirim Menkul Degerler A.S.(Ak Investment) Long-term Issuer Default Ratings (IDR) of 'BBB-' with Stable Outlook and a National Long-term Rating of 'AA+(tur)', in line with those of its parent, Turkey's Akbank T.A.S. (Akbank; BBB-/Stable).

A full list of rating actions is available at the end of this rating action commentary.

KEY RATING DRIVERS IDRS, NATIONAL RATINGS AND SENIOR DEBT

The ratings of Ak Investment are equalised with those of its sole owner, Akbank. This reflects Fitch's view that it is a core, highly integrated subsidiary of Akbank, acting as the investment banking arm of the group, and that the parent has a strong ability and propensity to support Ak Investment in case of need.

Fitch's view of Akbank's propensity to support Ak Investment considers the latter's close integration with Akbank. Ak Investment shares its parent's branding and key risk assessment systems. The Board of Directors at Ak Investment comprises senior executives of Akbank.

RATING SENSITIVITIES
Ak Investment's ratings would be primarily sensitive to a change in Akbank's ratings and also to Fitch's view on the propensity of the parent to provide support in case of need.

The rating actions are as follows:

Long-term foreign and local currency IDRs assigned at 'BBB-'; Outlook Stable
Short-term foreign and local currency IDRs assigned at 'F3'
National Long-term Rating assigned at 'AA+(tur)'; Outlook Stable
Support Rating assigned at '2'